Yelp upgraded to Outperform from In Line at Evercore ISI

Evercore ISI upgraded Yelp (YELP) to Outperform from In Line with a price target of $45, up from $37. The firm now views Yelp as a potential winner in artificial intelligence. The company’s AI receptionist and host call answering opportunity could meaningfully expand its total addressable market, the analyst tells investors in a research note. Evercore sees AI brining a near-term revenue opportunity and valuation multiple growth for Yelp.