Goldman Sachs Starts Groupon, Inc. (GRPN) at Buy

Goldman Sachs initiates coverage on Groupon, Inc. (NASDAQ: GRPN) with a Buy and $29 price target.

The firm comments, "We view Groupon as the key to unlocking the massive local advertising market with which the Internet has long struggled. We believe the size of the addressable market (conservatively the $100 bn local advertising market, but potentially over $10 trillion in global advertising, goods, and services markets), new business models like Groupon Now! in mobile, and the advantages of scale more than offset the considerable risks from competition, margin pressure, and deal fatigue."

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 $23.32 yesterday.

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