Credit Suisse Upgrades GrubHub Inc. (GRUB) to Outperform
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(Updated - January 28, 2019 7:58 AM EST)
(updated to add analyst comments)
Credit Suisse analyst Stephen Ju upgraded GrubHub Inc. (NYSE: GRUB) from Neutral to Outperform with a price target of $130.00 (from $125.00).
Ju notes this is not a stock call around 4Q18 - they actually expect GRUB's initial EBITDA guidance to be below Street and brace for potentially a negative investor reaction - "but rather increased comfort around ROIC on recent initiatives, which we believe are accretive, opportunistic, and conducted from a position of strength. And we would use any potential pullback to either increase or initiate a position on GRUB shares."
Shares of GrubHub Inc. closed at $80.77 yesterday.
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