Deutsche Bank Upgrades Groupon, Inc. (GRPN) to Buy; Sees Shares More Than Doubling in Bull Case
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Price: $21.51 -2.14%
Rating Summary:
14 Buy, 16 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 16 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank upgraded Groupon, Inc. (NASDAQ: GRPN) from Hold to Buy with a price target of $10.00 (from $6.00).
In its upgrade report, Deutsche Bank highlighted: 1) the company should be in a position to grow billings 20%+ on the transition to a "pull" strategy, marked by further traction in mobile and SEO/SEM, which should result in 2) up to 30% upside to 2015 consensus EBITDA in our bull case.
"Sentiment has improved since our initial November "warm-up", and now we are upgrading amidst the current transition phase before growth turns back up," analyst Ross Sandler said. "Our base-case scenario assumes no multiple expansion (15x 2014E) and drives our $10 target, with our upside bull-case to $16."
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 $6.86 yesterday.
In its upgrade report, Deutsche Bank highlighted: 1) the company should be in a position to grow billings 20%+ on the transition to a "pull" strategy, marked by further traction in mobile and SEO/SEM, which should result in 2) up to 30% upside to 2015 consensus EBITDA in our bull case.
"Sentiment has improved since our initial November "warm-up", and now we are upgrading amidst the current transition phase before growth turns back up," analyst Ross Sandler said. "Our base-case scenario assumes no multiple expansion (15x 2014E) and drives our $10 target, with our upside bull-case to $16."
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 $6.86 yesterday.
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