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Fly News Breaks for July 9, 2015
GRUB
Jul 9, 2015 | 08:41 EDT
BofA/Merrill remains positive on GrubHub's long-term margin opportunity despite concerns about increasing competition from Yelp's acquisition and new VC funding of related take-out providers. The firm said the focus should be on active diner growth, not restaurant counts, and GrubHub is investing in new diner acquisition, which provides long-term revenue growth and competitive barriers. The firm rates GrubHub a Buy with a $49 price target.
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