Groupon shares up on analyst kudos
BY SANDRA GUY Business Reporter firstname.lastname@example.org February 21, 2013 1:18PM
Updated: February 28, 2013 1:00AM
Daily deal site Groupon’s stock on Thursday jumped 3.76 percent, to close at $5.80, after an analyst noted the Chicago-based company’s improved international growth.
The PiperJaffray analyst’s upgrade of Groupon’s stock price to $8 from $5.50 follows an upgrade last week by analyst Arvind Bhatia of Sterne Agee.
Groupon’s stock has more than doubled in recent months from an all-time low of $2.76 a share last November. Yet the company, troubled by concerns that its coupon offers cannot sustain it longterm, is trading at 29 percent of its November 2011 initial public offering debut price of $20.