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October 4, 2013
09:56 EDTOPENOpenTable advances after analyst raises rating on shares
Shares of online restaurant reservation provider OpenTable (OPEN) are climbing after research firm Piper Jaffray upgraded the stock in a note to investors earlier today. WHAT'S NEW: Adoption of OpenTable's system should accelerate significantly as the company increases its spending on mobile advertising and launches new marketing initiatives, Piper Jaffray analyst Michael Olson wrote. The company's expanded efforts to boost its adoption among consumers - reflected by its recent hiring of new senior marketing executives - could accelerate its growth to levels similar to those experienced by online travel companies in the early 2000s, Olson predicted. Within two years, OpenTable's adoption should "reach a tipping point," according to the analyst, who upgraded his rating on the stock to Overweight from Neutral and increased his price target on the shares to $80 from $65. TODAY'S PRICE ACTION: In early trading, OpenTable rose $1.45, or 2%, to $71.20.
News For OPEN From The Last 14 Days
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July 24, 2014
08:23 EDTOPENPriceline completes OpenTable tender offer
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July 16, 2014
18:03 EDTOPENMedAssets to replace OpenTable in S&P 600 as of 7/23 close
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