Wunderlich Provides Outlook On Groupon Ahead Of Q2 Earnings - Groupon (NASDAQ:GRPN)

In a note released Wednesday morning, Wunderlich analyst Blake T. Harper provided an overview of

Groupon IncGRPN

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:

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.

Groupon closed Tuesday at $6.00.

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