Sterne Agee Maintains Bullish View on Groupon (GRPN) Following Meetings

Sterne Agee analyst Arvind Bhatia reiterated a Buy rating and $12 price target on Groupon, Inc. (NASDAQ: GRPN) after meetings with management.

Bhatia commented, "Groupon hosted an investor meeting at its headquarters yesterday where we had a chance to meet CEO Eric Lefkofsky, CFO Jason Child and the IR team of Genny Konz and Lindsey Moore. Following the meeting, we came away feeling incrementally more positive that growth in North America Local is sustainable beyond the easy comps, that a portion of the T-MON/Asian operations is likely to be sold-off in the near term and, that as a company Groupon continues to have a long runway for growth."

He added, "We think the main issues surrounding the stock include sustainability of positive trends in Local (i.e., has “Local” truly inflected?), the potential sale of a portion of T-MON/Asia operations and Groupon’s longer-term growth rate."

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 $8.08 yesterday.

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