Argus Starts GrubHub Inc. (GRUB) at Buy
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Argus initiates coverage on GrubHub Inc. (NYSE: GRUB) with a Buy rating and a price target of $52.00.
The firm set 2016 adjusted EPS forecast of $0.90, up 32% from $0.68 in 2015. They project a further 29% increase in 2017, to $1.16.
The analyst said GRUB shares appear attractively valued at a projected 2017 PEG ratio of 1.4, below the average of 1.8 for peer internet and software services companies.
Shares of GrubHub Inc. closed at $39.66 yesterday.
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