Why E-Commerce Marketplace Groupon's Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Roth MKM analyst Sean McGowan initiated coverage on Groupon Inc (NASDAQ:GRPN) with a Buy rating and a price target of $30. The analyst expects the company to witness higher demand amid high inflation and signs of recession. He also highlighted the company's cost reduction initiative of saving over $250 million and focusing more on profits than sales growth. Groupon's shares are up 16.2% at $12.72 on the last check Friday.
October 13, 2023 | 4:54 pm
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POSITIVE IMPACT
Groupon's shares are expected to rise following a Buy rating from Roth MKM analyst Sean McGowan. The company's cost reduction initiative and focus on profits over sales growth are seen as positive indicators.
The Buy rating from Roth MKM analyst Sean McGowan is a strong positive signal for Groupon's stock. The analyst's expectation of higher demand for the company amid high inflation and signs of recession, along with the company's cost reduction initiative and focus on profits over sales growth, are likely to boost investor confidence and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100