GRPN Price Target Boosted By Sterne Agee Ahead of Earnings to $ 12 PT. (LINK)
Groupon Price Target Boosted By Sterne Agee Ahead of Q2 Earnings 8/6/13
By: Tomio Geron
Groupon is being underestimated by investors and has room to grow particularly in mobile, says Arvind Bhatia, analyst at Sterne Agee in his second quarter earnings preview.
Bhatia today increased his price target to $12 from $9. The daily deals company–which has also been moving into products–reports second quarter earnings after the close Wednesday.
Despite all the company’s struggles since its IPO, including the removal of CEO Andrew Mason, Groupon GRPN -2.65% still has a larger opportunity to grow than people realize, Bhatia says. He believes Grouponwill benefit from the overall move to local and mobile in ecommerce. “We continue to like GRPN as a turnaround story,” he writes.