UPDATE: Jefferies Initiates RetailMeNot at Buy on Best Market Position
In a report published Tuesday, Jefferies analyst Brian Pitz initiated coverage on RetailMeNot (NASDAQ: SALE) with a Buy rating and $40.00 price target.
In the report, Jefferies noted, “We are initiating coverage with a Buy rating and $40 PT. We believe that the company is one of the best positioned in the large and under-penetrated digital couponing space and that there is meaningful upside from current stock price levels. Jefferies acted as a lead co-manager in RetailMeNot's July IPO.”
RetailMeNot closed on Monday at $32.28.
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