Sterne Agee Says $GRPN Stock Price Will Double

• “….The company’s evolution beyond its core push email business to pull (search engine, direct site traffic) will ultimately prove successful
• Management’s renewed focus on the international segment will yield positive results in the coming quarters
• Competition is easing a bit and we believe underscores how GRPN’s scale is a real advantage in a business with low barriers to entry
• GRPN’s valuation seems compelling on a relative and absolute basis. GRPN is trading at 0.8x EV to Sales (2014E), which is an 80% discount to its peer group trading at 3.7x. In fact, GRPN has the lowest valuation among its peer group.”

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