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Fly News Breaks for January 13, 2017
GRUB
Jan 13, 2017 | 08:23 EDT
As previously reported, Morgan Stanley upgraded GrubHub to Overweight from Equal Weight and raised its price target to $44 from $36. Analyst Ken Zerbe said restaurant net additions are accelerating which will drive faster diner growth and further selection and product innovation, resulting in increased diner spend. Zerbe said these bullish indicators will likely lead to higher earnings power and upward revisions for GrubHub, which becomes his top pick in Smid Cap Internet.
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