JPMorgan Lowers Target Price on Yelp Stock to $19

JPMorgan Chase & Co., one of the largest investment banks in the world, has reiterated its 'underweight' rating for Yelp (NYSE:YELP), a digital platform that connects consumers with local businesses. In a research report issued to clients and investors on Friday, JPMorgan Chase & Co. maintained its $19.00 target price on Yelp's stock, indicating a potential downside of 9.22% from the company's previous close.

This is not the first time JPMorgan Chase & Co. has expressed a negative view on Yelp's prospects. In May, Morgan Stanley also lowered its price target on Yelp from $28.00 to $24.00 and set an 'underweight' rating for the company.