Groupon Inc (GRPN) Accorded A Buy Rating By Wunderlich

Wunderlich Securities is initiating coverage of Groupon Inc (NASDAQ:GRPN) with a Buy rating and $11 price target. They believe the company’s challenges, which include an evolving strategy and the lack of a permanent CEO, has left the stock undervalued, given the  opportunities  the  company  can  address.  They view  Groupon Inc (NASDAQ:GRPN)  as  a  marketing company for local businesses that has been transitioning away from the daily deals business model that it became famous for. Wunderlich believes its shift to offering a deal bank of discounted goods and services to browse through is a more valuable revenue stream and a better…