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Fly News Breaks for August 9, 2018
YELP
Aug 9, 2018 | 06:44 EDT
JPMorgan analyst Doug Anmuth raised his price target for Yelp to $57 citing the company's "strong" Q2 results. Non-term contracts are working and drove record net new paying advertising accounts of 17,000 in the quarter, Anmuth tells investors in a post-earnings research note. The analyst believes Yelp has a "significant opportunity ahead" in thegrowing local ad market. The stock remains one of Anmuth's top SMID-cap ideas with an Overweight rating.