Barclays analyst Trevor Young lowered the firm’s price target on Groupon to $4 from $6 and keeps an Underweight rating on the shares. The company’s billings and revenue once again missed expectations as trends deteriorated in December and Q1 "doesn’t appear to be improving much," the analyst tells investors in a research note. Accelerating further cost cuts should help turn Groupon’s EBITDA positive in Q2, but it is "tough to get constructive" on the company’s turnaround prospects with customer declines worsening, says the firm.
Published first on TheFly
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