Investors should buy Yelp on the prospects for strong growth ahead, according to MKM Partners, which raised its rating on the internet company to buy from neutral.
"We think YELP is among the cleanest stories of the group for potential recovery. Sales force productivity has rebounded and should have tail wind. The company has minimal revenue exposure to Europe," MKM Partners' Rob Sanderson wrote in a note to clients Thursday.
"YELP is positioned to report another solid quarter and guidance for local ad sales growth, we think momentum could continue into 2017 and we expect this will lift the stock."