UPDATE: J.P. Morgan Initiates Coverage on Groupon at Neutral

According to J.P. Morgan, Groupon GRPN coverage is initiated at Neutral. J.P. Morgan said that it is initiating coverage on Groupon, the leading local deals marketplace, with a Neutral rating and YE12 price target of $24. “We believe Groupon is well-positioned to take share of local leisure, recreation and foodservice markets, which combined represent an estimated $5.3T in sales globally and $1.4T in the US.” Groupon closed yesterday at $23.32.