Yelp rebounds on Oppenheimer upgrade

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

Clobbered last week by a momentum stock rout and the WSJ's probing of FTC complaints related to bad reviews, Yelp (YELP +2.4%) is rallying today on an Oppenheimer upgrade to Outperform.

Oppenheimer, which has also upgraded Netflix, argues Yelp's near-term fundamentals are unchanged by the FTC complaints. Shares are down 34% from a February high of $101.75, but remain up over 150% over the last 12 months.