RBC Capital Upgrades Groupon, Inc. (GRPN) to Sector Perform

RBC Capital upgraded Groupon, Inc. (NASDAQ: GRPN) from Underperform to Sector Perform and maintains a $4 price target, citing valuation post a 40% share price correction since its Q3 EPS print.

Analyst Mark Mahaney commented, "We are upgrading GRPN as the stock has meaningfully corrected back into a range where we believe valuation is reasonable, post an almost 40% share price reduction since its Q3 EPS print in late October. We still see substantial fundamental challenges, but at 5X ’17E Adjusted EBITDA, we believe these challenges are largely priced in. No change to estimates or our $4.00 PT. For context, we downgraded GRPN from Sector Perform to Underperform in April."

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 $3.32 yesterday.

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