Deutsche Bank Maintains a 'Hold' on Groupon (GRPN); Cutting Estimates and Price Target

Deutsche Bank maintains a 'Hold' on Groupon, Inc. (NASDAQ: GRPN) price target lowered from $22 to $21.

Analyst, Lloyd Walmsley, said, "We reduce our net revenue for 1Q from $528mn to $520mn, still in line with Groupon’s reaffirmed 1Q guidance for revenue of $510-$550mn. We trim our PF operating profit from $58mn to $53mn, also still in line with guidance for PF operating income of $50-$70mn (excl. stock comp and acquisition expense). Our PF operating profit is now $343mn and $753mn in 2012 and 2013 from $350mn and $776mn, respectively. We revise our PF EPS from $0.75 to $0.71 in 2013."

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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