Yelp (NYSE:YELP): Cowen raised Yelp’s price target to $80 from $60 following management meetings that increased confidence in higher advertising growth trajectory. The firm continues to believe that Yelp is in the early stages of monetization, and that the company offers a compelling product. The shares are Outperform rated.
Netflix (NASDAQ:NFLX): MKM Partners raised its price target for Netflix shares to $370 from $285, citing more confidence in the size of the company’s market opportunity as well as management’s ability to execute. MKM expects Netflix to benefit from the shift to Internet-delivered services, and the firm keeps a Buy rating on the stock.
Pandora (NYSE:P): Pacific Crest believes that the threat posed to Pandora by Apple’s (NASDAQ:AAPL) iTunes Radio should be “muted” if Pandora removes its cap on mobile listening hours. The firm thinks that Pandora’s stock could be volatile in the near-term as the company’s listening hours are impacted by iTunes Radio. However, the firm expects Pandora’s monetization to increase significantly in the near-term, and it recommends owning the stock.
Caterpillar (NYSE:CAT): After Caterpillar announced some price increases, Wells Fargo expects the increases to be overshadowed by ongoing concerns about the volumes in several of its key businesses. The firm expects investors to be skeptical about price realization until recent declines in the company’s volume trends stabilize. It keeps a Market Perform rating on the stock.