UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Groupon Following Strong Beat, Weak Guidance

In a report published Thursday, Jefferies analyst Brian Pitz reiterated a Hold rating on

, 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.