Yelp rallies following PT hike

|About: Yelp (YELP)|By:, SA News Editor

Retail analyst Dana Telsey (head of research firm Telsey Advisory Group) has hiked her Yelp (YELP +5.2%) to a Street-high $95.

Shares of the local reviews leader have jumped above $70 in response. They're now within striking distance of their all-time high of $75.37 (set in October).

Short-covering could be contributing to today's gains. 14.6% of Yelp's float was shorted as of Dec. 13.