Evercore Partners Maintains an 'Equal Weight' on Groupon (GRPN); Following Up After Recent Downgrade
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Price: $19.59 -0.05%
Rating Summary:
14 Buy, 16 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 16 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Evercore Partners maintains an 'Equal Weight' on Groupon, Inc. (NASDAQ: GRPN) price target of $6.50 (from $9.00).
Analyst, Ken Sena, said, "We have lowered our target price to $6.50, given the steady COGS escalation and Daily Deals billings deceleration. However, we are leaving our rating unchanged until we can better assess the impact that the recent mix performance is likely to have on the company’s long-term cash-generating capability. Our new target values Groupon at 12x our 2013 EBITDA est. (x-SBE). Although this may seem reasonable on an adjusted basis, we note that inclusive of stock based expense, Groupon trades over 28x our 2013 EBITDA estimates, suggesting potentially growing valuation risk, in our view."
NOTE - Evercore partners downgraded GRPN on July 26th from Overweight to Equal Weight and cut its price target from $17 to $9, citing weakening core.
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 $7.55 yesterday.
Analyst, Ken Sena, said, "We have lowered our target price to $6.50, given the steady COGS escalation and Daily Deals billings deceleration. However, we are leaving our rating unchanged until we can better assess the impact that the recent mix performance is likely to have on the company’s long-term cash-generating capability. Our new target values Groupon at 12x our 2013 EBITDA est. (x-SBE). Although this may seem reasonable on an adjusted basis, we note that inclusive of stock based expense, Groupon trades over 28x our 2013 EBITDA estimates, suggesting potentially growing valuation risk, in our view."
NOTE - Evercore partners downgraded GRPN on July 26th from Overweight to Equal Weight and cut its price target from $17 to $9, citing weakening core.
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 $7.55 yesterday.
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