In a report published Thursday, Jefferies analyst Brian Pitz reiterated a Hold rating on Groupon GRPN, and raised the price target from $6.00 to $8.50.
In the report, Jefferies noted, “Groupon beat Street ests again on strong growth in NA and improving trends in EMEA offsetting continued billings & rev declines in ROW. Solid rev growth in NA (+45% Y/Y) offset rev headwinds in EMEA (-24% Y/Y) and ROW (-26% Y/Y) to deliver total rev growth of 7% Y/Y. We reiterate our Hold rating and raise PT to $8.50.”
Groupon closed on Wednesday at $8.72.
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