UPDATE: Wunderlich Securities Initiates OpenTable at Buy on Reservation Growth

Wunderlich Securities initiated OpenTable

with a Buy rating and a $68.00 price target. Wunderlich Securities commented, "We believe the company has a strong competitive advantage in the U.S. market due to network effects. It also has plenty of opportunity for growth with 49% of all restaurants and 16% of reservation-making seated diners using the service, with much lower penetration rates in its international markets. We expect OpenTable to become a destination platform for diners anywhere. The company should have steady, sustainable growth ahead." OpenTable closed at $54.07 on Tuesday.