UPDATE: Stifel Upgrades GrubHub Inc. (GRUB) to Buy
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
(Updated - November 14, 2016 9:13 AM EST)
Stifel upgraded GrubHub Inc. (NYSE: GRUB) from Hold to Buy with a price target of $46. Analyst John Egbert noted strong fundamentals.
"GrubHub shares have fallen by over 20% since reaching a 52-week high of nearly $45 in late September (the S&P 500 fell less than 1% over this period) despite strong fundamentals and respectable 3Q:16 results. The company has exhibited solid execution in its core marketplace business and impressive growth in its emerging delivery business, while competition does not appear to be having a material impact on the company’s results. With shares trading below 16x 2017 EV / EBITDA, we believe risk / reward in GRUB shares once again appears compelling, especially to investors with a long-term focus," said Egbert.
Shares of GrubHub Inc. closed at $35.31 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs Upgrades Genuine Parts (GPC) to Neutral, Sees Earnings Growth Resuming
- Morgan Stanley Upgrades Tesla Motors (TSLA) to Overweight
- Goldman Sachs Downgrades Bloomin' Brands (BLMN) to Neutral Citing Margin Pressures And Rising Interest Rate Risks To Interest Expense
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Hot Comments, Hot Upgrades, Upgrades
Related EntitiesStifel, Standard & Poor's
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!