Groupon price target raised to $39 from $35 at Northland

Northland analyst Bobby Brooks raised the firm’s price target on Groupon (GRPN) to $39 from $35 and keeps an Outperform rating on the shares after the company announced what the firm calls “an opportunistic and proactive financing transaction.” The newly issued 2030 notes meaningfully simplifies the company’s capital structure and provides more flexibility, the analyst tells investors. This deal removes any balance sheet overhangs and is a continuation of the company’s shift from “defense to offense,” the analyst added.