UPDATE: Morgan Stanley Upgrades Groupon to Overweight Rating and $14 Price Target
Morgan Stanley released a series of reports this morning, one of which is making a bullish call on Groupon (NASDAQ: GRPN), upgrading the stock from Equal-weight to Overweight and raised the price target from $11 to $14.
The report focused on the company's activities in North America, transitioning from a push model to a pull model, which is more in line with how consumers shop online. It went on to state that the upgrade does not take into account opportunities outside of Europe and North America, so this could give the bulls even more fuel to trade the name up.
Following the report, Groupon shares traded up 6.07 percent, breaking the key $10 level and bouncing off $11, resting at $10.92 at the time of this report.
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