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Fly News Breaks for November 4, 2015
GRPN
Nov 4, 2015 | 08:25 EDT
As previously reported, BofA/Merrill downgraded Groupon to Underperform from Buy. Analyst Paul Bieber said Groupon's increased marketing spend to accelerate new customer acquisition will negatively impact the margin profile and EBITDA. Bieber expects sentiment on Groupon to remain negative until it demonstrates marketing investments can drive higher growth, which might take until late 2016 or 2017. The analyst lowered his price target to $3 from $6 on Groupon shares.
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