Wedbush Starts GrubHub Inc. (GRUB) at Outperform

Wedbush initiates coverage on GrubHub Inc. (NYSE: GRUB) with a Outperform rating and a price target of $40.00.

Analyst Aaron Turner commented, "We believe GRUB is the market leader in the growing online restaurant ordering and delivery space and will continue to benefit from its early lead and superior size and scale. We believe recent delivery initiatives and strategic acquisitions coupled with continued diner adoption of mobile-based restaurant take-out and delivery methods should drive robust revenue and earnings growth for the foreseeable future. Therefore, we are initiating with an OUTPERFORM rating and $40 price target."

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

Shares of GrubHub Inc. closed at $31.08 yesterday.

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