Citi Maintains Buy on OpenTable

Citi is out with its report today on OpenTable

, maintaining Buy. In its report, Citi writes, "We view OPEN as a core holding. Our Long Thesis remains largely unchanged, and we believe OPEN's growth & profitability outlook are very solid – due to its high visibility revenue model (subscription/utility), still early stage secular penetration (only 11% of U.S. seated diners), and very high operating leverage (50%+ incremental margins)." Citi maintains an $82 PT on OPEN. Shares of OPEN closed Friday at $46.68.