Yelp price target raised to $50 from $41 at Wells Fargo

Wells Fargo raised the firm’s price target on Yelp to $50 from $41 and keeps an Equal Weight rating on the shares. With consistent execution on its product-led strategy and focus on efficiencies, Yelp delivered another quarter of new revenue and profitability records, the firm notes. Wells remains concerned with a soft/uncertain macro backdrop and stays on the sidelines.