YELP - Yelp pares lows after new neutral rating at Goldman Sachs

• Yelp Inc. ( NYSE: YELP ) pared an earlier loss after touching a 52-week low after Goldman Sachs assumed coverage with a neutral rating after it has previously been buy-rated.
• YELP's price target was cut to $33 from $49 by Goldman analyst Eric Sheridan. He sees a "balanced risk reward" as competition rises, though there is margin potential ahead.
• "What remains an open debate (and one that we believe investors will be particularly focused on) is how the macroeconomic environment and competitive landscape dictates local advertising spend growth over the next 1-2 years," Sheridan wrote in a note on Thursday.  "As a result of these cross-currents, we see the risk/reward as balanced on shares from current levels."
• Yelp ( YELP ) in March added former ANGI Homeservices and HomeAdvisor CEO Chris Terrill to its board.

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