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Published on Oct 17, 2016
Groupon
shares were higher Monday after Wedbush Securities upgraded its rating
on the stock to Outperform from Neutral. The firm also raised its price
target to $6.50 from $4.50. Analysts with Wedbush said Groupon currently
has a "large valuation discrepancy" relative to its peers, but its 2016
fiscal third-quarter earnings should help close that gap. They added
that the company's accelerating site traffic growth and improving deal
inventory should result-in better-than-expected third-quarter results.
Groupon is set to report third-quarter earnings next Wednesday.
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