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Top-ranked analyst: Buy Yelp on better profits

Yelp employees in the New York City office.
Spencer Platt | Getty Images

One of the best analysts on Wall Street told investors to buy Yelp on an anticipated earnings upside the rest of the year.

"Yelp [is] likely to exceed 2016 guidance and Street estimates," Deutsche Bank's Lloyd Walmsley wrote in a note to clients Sunday.

He added, "[the positive view reflects] stabilized salesforce productivity, more confidence in management, and improvements in ad units and systems bolstering our long-term outlook."