Yelp, Fitbit Stock Coverage Initiated; The Fresh Market Upgraded
In Tuesday's Analysts' Actions, Wall Street firms start coverage of Yelp (YELP) and Fitbit (FIT) and one firm has a bullish outlook on The Fresh Market (TFM). William Blair began coverage of The Fresh Market with a MARKET PERFORM rating. The company needs to improve the value proposition for its advertising business, analysts said. Right now, its self-service product is generating revenue faster than its subscription product. After doing analysis of the two, the firm found out that the self-service option was much more beneficial to the advertisers using Yelp. Overall, the company is leading the online consumer review platform. In another note, KeyBanc Capital Markets initiated coverage of Fitbit with an OVERWEIGHT rating and a $47 price target. Analysts said its business is growing 'ridiculously fast' and the brand is getting stronger. The firm is bullish as Fitbit continues to lead the wearables market. Finally, The Fresh Market got its ratings boosted at Jefferies. Analysts upgraded the stock to BUY from HOLD and raised their price target to $29 from $26. The firm is hopeful as the company recently got a new CEO. This takes away the uncertainty and can bring positive changes to the company analysts said. Looking ahead, the firm believes that the company has the potential to make a comeback. TheStreet's U-Jin Lee reports from New York.
