Groupon climbs after Piper Jaffray ups rating to Overweight

theflyonthewall.com

Groupon (GRPN) is advancing after Piper Jaffray analyst Gene Munster upgraded the stock to Overweight from Neutral in a note to investors earlier today. The coupon provider's international business trends are improving and the rebound should cause the company to increase its revenue guidance for the quarter ending in March, Munster believes. Moreover, after conducting a survey, the analyst thinks that Groupon's North American trends have also stayed strong. Munster raised his price target on the stock to $8 from $5.50, and the shares jumped 23c, or 4%, to $5.80 in early trading.

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