In a note released Wednesday morning, Wunderlich analyst Blake T. Harper provided an overview of Groupon Inc GRPN ahead of the company's second quarter earnings report.
Harper expects the results to be in-line and likely driven by the Goods business. However, he feels the company's goal of double-digit growth in Local in the second half of 2014 may prove to be "ambitious."
Harper currently rates Groupon a Hold with a $6 price target. He has also listed five key points to keep in mind:
Market News and Data brought to you by Benzinga APIs- Local growth is needed to lift the stock in the second half.
- Goods growth won't be able to offset a lack of growth in local.
- Apple Pay could provide a boost to the active customer count.
- The company has introduced new apps and features, namely an app called Snap, which allows users to get cash back by taking a picture of receipts.
- The stock appears to be fairly valued on a sum of the parts basis.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Posted In: Analyst ColorPrice TargetPreviewsReiterationAnalyst RatingsTrading IdeasBlake T. HarperWunderlich
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