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Fly News Breaks for June 2, 2016
GRUB
Jun 2, 2016 | 07:51 EDT
Following the recent strength in the shares and a "noticeable pickup in inbound investor calls," Citi analyst Mark May reiterates a Buy rating on GrubHub. The market opportunity for online food ordering remains large and under-penetrated, May tells investors in a research note. The stock's valuation remains attractive given the company's long-term growth outlook and competitive positioning, May contends. He sees upside over the next 12 months to at least $30 per share.
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