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NEW YORK, June 18 (Reuters) – Shares of online marketer
Groupon Inc jumped on Monday after Morgan Stanley
raised the stock to “overweight,” saying that scale and
technology advantages had enabled the company to accelerate
revenue growth while improving margins.
“Groupon has emerged as the leading local eCommerce company
in an industry with significant barriers to scale,” Morgan
Stanley wrote in a research note. “We believe the recent selloff
of Groupon shares represents a strong buying opportunity.”
Groupon shares were up 11 percent to $11.17 in afternoon
trade. Morgan Stanley has an $18 target price for the stock.
(Reporting By Edward Krudy; Editing by Chizu Nomiyama)
