Groupon price target lowered to $17 from $24 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Groupon (GRPN) to $17 from $24 and keeps a Sell rating on the shares. Groupon’s Q3 results highlighted user growth from optimized marketing, supply expansion focused on travel and experiences, and strategic initiatives like the Chicago playbook and upcoming brand campaigns, the analyst tells investors in a research note. Management continues balancing growth investments, margin trajectory, and capital allocation, the firm says.