Groupon price target lowered to $26 from $28 at Roth MKM

Roth MKM lowered the firm’s price target on Groupon to $26 from $28 and keeps a Buy rating on the shares. The company’s Q2 revenues validate the firm’s view that the management is taking the right steps to improve the business, and its EBITDA miss was driven by technical glitches and higher-than-expected costs, the analyst tells investors in a research note, adding that these glitches are temporary and that growth, excluding the setback, would have been considerably better than expected.