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Fly News Breaks for June 18, 2018
Jun 18, 2018 | 09:31 EDT
MKM Partners analyst Rob Sanderson keeps his Buy rating and $56 price target on Yelp. The analyst notes that the stock price is down 14% since reporting a "strong" Q1, and believes that investors' concern with a shift to non-term contracts as misplaced, calling it a "dinosaur in digital marketing world". He anticipates improving growth dynamics for local advertising leading to a catch-up rally in this stock that has not participated in the recent surge for Internet shares. Sanderson further contends that a rising churn rate is not a concern if user participation is on the rise.
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