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Fly News Breaks for April 14, 2015
KKR, GRPN
Apr 14, 2015 | 10:00 EDT
Piper Jaffray noted The Wall Street Journal's report that Groupon (GRPN) is near a deal to sell a controlling stake in Ticket Monster to KKR (KKR), netting Groupon $472M. The firm believes Ticket Monster and the company's other "hidden" assets could add a few percent to the overall Groupon story, but that most of the stock's valuation will depend on Groupon's U.S. local billings growth and profits from its Good's segment. Piper keeps an Overweight rating and $10 price target on shares of Groupon.
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