- Citing valuation, BofA/Merrill has upgraded YELP to Buy, albeit while cutting its target by $12 to $70. "Our positive view on Yelp is based on its position as a local category leader with a strong position on mobile, enviable engagement trends and strong viral attributes."
- BofA's target is equal to 44x estimated 2016 EPS and 26x estimated EV/EBITDA. Going into today, Yelp was down 47% from an early-2014 high of $101.75.