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GRUB

GrubHub

$109.59

(0.00%)

09:34
03/13/18
03/13
09:34
03/13/18
09:34

Technical Take: GrubHub at new 52-week high, analyst action

The shares were last up over 1.1% to $110.86, just below the high at $111.34. Without established overhead resistance, a run to the $112.50-$115 area may be possible. Support is at $110.36. As previously reported, Guggenheim raised its price target from $94 up to $140.

GRUB GrubHub
$109.59

(0.00%)

03/13/18
GUGG
03/13/18
NO CHANGE
Target $140
GUGG
Buy
GrubHub price target raised to $140 from $94 at Guggenheim
Guggenheim analyst Matthew DiFrisco raised his price target for GrubHub (GRUB) to $140 after conducting a survey of 1,000 domestic consumers that used food delivery in the last month to better assess the current delivery consumer. The stock closed yesterday up $1.03 to $109.59. The survey findings "heavily supported" Grubhub's model, which offers the consumer a wide choice of restaurants at a moderate premium for the incremental delivery service but with a consistent experience, DiFrisco tells investors in a research note. He believes Grubhub's restaurant network has a lot of headroom to grow as it currently has 80,000 restaurants across its platforms, and with the Yum! Brands (YUM) partnership, he sees that approaching 100,000 restaurants during 2019. DiFrisco says his new price target reflects an upwardly revised outlook for GrubHub's total addressable market in light of its strategic shift to partner with national chains. The analyst keeps a Buy rating on the shares.
03/12/18
COWN
03/12/18
NO CHANGE
Target $115
COWN
Outperform
GrubHub price target raised to $115 from $96 at Cowen
Cowen analyst Thomas Champion raised his price target on GrubHub to $115 from $96 as he sees further upside to estimates as the Street begins to recognize the opportunity in 2019. He sees drivers including KFC/Taco Bell delivery, an expanded delivery footprint, and Pizza Hut cooperation. Champion reiterated his Outperform rating on GrubHub shares.
03/06/18
03/06/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Spectra Energy Partners (SEP) downgraded to Hold from Buy at Stifel with analyst Selman Akyol saying he believes the company's cash flow growth will be on the low end relative to its large cap peers. 2. GrubHub (GRUB) downgraded to Neutral from Buy at BofA/Merrill with analyst Nat Schindler. citing valuation. 3. Canadian National (CNI) downgraded to Underperform from Neutral at BofA/Merrill with analyst Ken Hoexter saying CEO Luc Jabin stepped down at a time when the company's pace of growth is set to stagnate as rising costs to maintain service levels offset volume and pricing gains. 4. General Mills (GIS) downgraded to Hold from Buy at Gabelli. 5. Fate Therapeutics (FATE) was downgraded to Market Perform from Outperform at Raymond James and to Neutral from Buy at H.C. Wainwright. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/06/18
BOFA
03/06/18
DOWNGRADE
Target $102
BOFA
Neutral
GrubHub downgraded to Neutral on valuation at BofA/Merrill
BofA/Merrill analyst Nat Schindler downgraded GrubHub to Neutral from Buy saying much of the benefits from tax reform, the Yum! partnership and the acquisition of Eat24 are reflected in shares and maintained a $102 price target.

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