Barclays raised the firm’s price target on Groupon to $7 from $6 and keeps an Underweight rating on the shares. The company’s North America local billings returned to growth and efforts to transform the platform continue, “albeit in a non-linear fashion,” the analyst tells investors in a research note. The firm says the $80M equity rights offering and a prolonged recovery are likely weighing on shares post earnings and highlight the risks inherent in any turnaround.
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