Sterne Agee CRT Reiterates Buy on GrubHub (GRUB) Following Recent Pullback

Sterne Agee CRT reiterates a Buy rating and $56.00 price target on GrubHub Inc. (NYSE: GRUB) following recent pullbacks. Analyst Arvind Bhatia thinks that the pullback provides an attractive entry point, and that GRUB’s addressable opportunity and growth prospects continue to be quite strong.

Bhatia commented, "We think the recent pullback provides an attractive entry point for investors. Concerns such as 1) a perceived slowdown in traffic/business; 2) increased competition; 3) perceived risks following GRUB’s increased investments in the “delivery” aspect of its business (as opposed to order generation only) and; 4) valuation have precipitated a decline in shares. We believe the overall market opportunity and GRUB’s growth prospects remain strong and are reiterating our Buy rating."

For an analyst ratings summary and ratings history on GrubHub Inc. click here. For more ratings news on GrubHub Inc. click here.

Shares of GrubHub Inc. closed at $30.98 yesterday.

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