Shares in Groupon are rallying this morning after Morgan Stanley analyst Scott Devitt upgraded the company to overweight.
"Groupon has emerged as the leading local eCommerce company in an industry with significant barriers to scale," Devitt wrote in a note to clients. "Its advantage due to scale (largest merchant and customer base) and technology (8 acquisitions YTD) has enabled it to accelerate NA revenue growth while improving
Shares are up 5.6 percent to $10.62 in pre-market trade.
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- Morgan Stanley