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December 11, 2013
11:59 EDTGRPNGroupon advances after Wells Fargo upgrades shares
Shares of online coupon provider Groupon (GRPN) are climbing after Wells Fargo upgraded its rating on the stock. WHAT'S NEW: Groupon is poised to take market share in the huge local commerce market, wrote Wells Fargo analyst Trisha Dill in a note to investors earlier today. Dill is upbeat on the company's new strategy of attracting users to its website, instead of relying primarily on sending coupons to users via e-mail, as Groupon did previously. There are indication that the strategy is gaining traction, according to the analyst. Also likely to benefit Groupon is the increasing popularity of mobile commerce, as mobile users buy 50% more than non-mobile users and Groupon's mobile offering is improving, she wrote. Although Groupon may face "bumps in the roads" as it becomes global, the company's risk/reward ratio is favorable at current levels, added Dill, who upgraded the rating on the stock to Outperform from Market Perform. She raised the price target on the shares to $13-$14 from $5-$6. WHAT'S NOTABLE: Morgan Stanley stated in its own note to investors yesterday that Groupon's stock could reach $15 in 2015. Like Wells Fargo, Morgan Stanley is optimistic about the company's new strategy and mobile product. Morgan Stanley reiterated an Overweight rating on the stock. PRICE ACTION: In late morning trading, Groupon climbed 28c, or 2.8%, to $10.30.
News For GRPN From The Last 14 Days
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April 14, 2014
08:53 EDTGRPNGroupon May volatility elevated at 74 into Q1 and outlook
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April 11, 2014
10:56 EDTGRPNOptions with increasing implied volatility: CYTK VJET DATA GRPN CTRP
April 10, 2014
09:34 EDTGRPNGroupon adds in-store coupons to Freebies category
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