Groupon, Inc. (GRPN) PT Raised to $5 at Jefferies Following 4Q Report

Jefferies raised its price target on Groupon, Inc. (NASDAQ: GRPN) to $5.00 (from $4.75) while maintaining a Hold rating. 4Q Total Revenue increased 2% Y/Y (+3% ex-FX) to $935MM vs. Street expectations of $913MM. Adjusted EBITDA of $81MM came in above cons at $60MM. Non-GAAP EPS of $0.07 was ahead of Street's $0.03.

Analyst Brian Fitzgerald commented, "GRPN delivered a beat quarter and mgmt provided guidance (largely in line with expectations) based on the country footprint expected after the completion of int'l rationalization. Mgmt made good progress on its strategic initiatives and focus in 2017 remains on further streamlining the business, growing the customer base and improving the user experience - all expected to get GRPN back to positive EBITDA and FCF growth. We maintain our Hold and raise PT to $5."

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