Wunderlich Comments On Negative Yelp Documentary

Wunderlich Securities on Friday issued a report on Yelp Inc YELP after news reports of a highly critical documentary is in production. Wunderlich rates Yelp as a Buy with a $90 price target.

Analyst Blake Harper wrote, "...we don't believe the film has uncovered any new or incriminating evidence and we would use the price decline in YELP as a buying opportunity. The trailer appears to offer no new information about Yelp's review filter or local business owners' complaints about reviews on the site, and it insinuates that Yelp extorts businesses by manipulating reviews."

See Also: Could This Movie Trailer Really Be Bringing Down Yelp's Stock?

According to Quantcast data, Yelp is expected to post high single-digit sequential growth in unique visitors in the first quarter.

Shares of Yelp traded recently at $45.91, up 1.6 percent.