Benchmark Lowers Price Target on Groupon (GRPN); Revision Unfortunate but Opportunity Intact

Benchmark maintains a 'Buy' on Groupon, Inc. (NASDAQ: GRPN) price target lowered from $32 to $28.

Analyst, Clayton F. Moran, said, "Groupon revised down 4Q11 financial results. The change was due to greater refunds than anticipated as product mix has shifted to higher-priced deals. But Groupon affirmed 1Q12 guidance. We view this revision as unfortunate but not indicative of a meaningful adverse change in the business or market opportunity. Our 2012 estimates are intact. We reduce our price target to reflect heightened uncertainty.

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 $18.38 yesterday.

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