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Yelp hits new high; Needham sees more growth ahead

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By
Rex Crum

YELP


SAN FRANCISCO (MarketWatch) — Yelp Inc.

/quotes/zigman/9021597/quotes/nls/yelp YELP
+5.21%


shares gained more ground at trading progressed Friday, as the online review and recommendation company’s stock climbed more than 5%, to an all-time high of $39.68. The gains were fueled by Needham Co. analyst Kerry Rice initiating his coverage of Yelp with a buy rating and $45-a-share price target. In a research note, Rice said Yelp “is taking strides in becoming a necessary advertising medium for local businesses worldwide”. Rice added that Yelp’s opportunities for overseas growth have likely not been accounted for in Wall Street’s consensus estimates.

Read the full story:

Microsoft, Dell slip; Yelp, Netflix jump

/quotes/zigman/9021597/quotes/nls/yelp




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Mystic Maggie

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