UPDATE: Morgan Stanley Upgrades Groupon (GRPN) to Overweight

September 5, 2013 6:52 AM EDT
Get Alerts GRPN Hot Sheet
Price: $3.45 -1.71%

Rating Summary:
    11 Buy, 20 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - September 5, 2013 9:31 AM EDT)

Morgan Stanley upgraded Groupon, Inc. (NASDAQ: GRPN) from Equalweight to Overweight with a price target of $14 vs $11. Analysts Scott Devitt has increased confidence given the recent turnaround in North America with the introduction of deal bank and strength in mobile. In his view, this sets the stage for strong execution in Europe and other parts of the world.

"Our upgrade is based on the sizable opportunity that Groupon posses in North America and Europe for services and goods, and our growing confidence that Groupon can execute against this opportunity. With renewed momentum in the local deals segment in North America leading to 2 strong quarters of growth and the rollout of the deal bank to EMEA in its early stages, we believe that Groupon's turnaround will lead to accelerating growth in 2014 and that ultimately, Groupon can grow at rates comparable to overall eCommerce in the long term.," said Devitt.

For an analyst ratings summary and ratings history on Groupon, Inc. click here. For more ratings news on Groupon, Inc. click here.

Shares of Groupon, Inc. closed at $10.30 yesterday.

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