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Fly News Breaks for June 6, 2018
YELP
Jun 6, 2018 | 07:26 EDT
As previously reported, KeyBanc analyst Brad Erickson downgraded Yelp to Sector Weight from Overweight as his latest customer checks, combined with updated views of Request a Quote, diminish his prior views for upside potential in the name. While Yelp's franchise generally remains healthy, the analyst sees signs of weakening customer engagement evolving on the margin, which typically do not correlate to higher value in his proprietary rubric for evaluating internet marketplaces.
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