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Fly News Breaks for March 20, 2017
GRUB
Mar 20, 2017 | 08:46 EDT
Craig-Hallum analyst Tom Erickson notes that Barron's has a negative article on GrubHub, with the author highlighting increased competition, slower growth rates, and rising delivery costs, while quoting an independent analyst saying that it was not investing in its delivery network. The analyst believes the real miss in the article was the argument that GrubHub is not investing in its delivery network, when in fact the company is investing aggressively. Further, Erickson believes delivery revenues are outpacing delivery costs, impacting net investments. He reiterates a Hold rating and $44 price target on the shares.
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