UPDATE: Ascendiant Raises PT on Groupon to $3.50 Despite Weak Q4 EPS and Skeptical Outlook
February 28, 2013 at 10:23 AM EST
In a report published Thursday, Ascendiant Capital Markets reiterated a Sell rating on Groupon (NASDAQ: GRPN ) and raised its price target from $2.50 to $3.50. According to Ascendiant, "Pro forma EPS was $(0.01), compared to our and consensus estimates of $0.03. Q4 guidance was for revenue of $625 -