UBS analyst Eric Sheridan downgraded Groupon (GRPN) to Sell saying the business pressure the company is seeing is unlikely to easy over the medium term. Google (GOOG, GOOGL) and Facebook (FB) are increasing their efforts to capture local ad dollars.
Amazon’s (AMZN) same-day delivery service reduces the benefit of a local marketplace, Sheridan tells investors in a research note. He maintains a price target of $3.20 for Groupon shares. The stock closed yesterday down 18c to $4.58.
Sheridan this morning also downgraded Yelp (YELP) to Sell.
Leave A Comment