Benchmark Maintains Buy, $20 PT on Groupon Post Investor Relations Meeting
Benchmark remains rated Buy with a $20 price target on Groupon (NASDAQ: GRPN) after they met with the company's investor relations in Chicago.
Benchmark comments, "We visited Groupon's Chicago sales office and met with investor relations last week. We have three takeaways: 1) The IPO lock-up, which has been a major overhang on the stock, expired last Friday; 2) recent enhancements to marketing efficiency should be sustained; and 3) the market opportunity remains enormous as Groupon is leading the online charge into local commerce. We maintain a $20 per share target and Buy rating."
GRPN closed at $8.95 on Monday.
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