Groupon price target raised to $47 from $33 at Roth Capital

Roth Capital raised the firm’s price target on Groupon (GRPN) to $47 from $33 and keeps a Buy rating on the shares. The firm is adjusting its model to reflect increasing confidence that the company’s turnaround will produce accelerating growth in revenue, adjusted EBITDA and free cash flow in the coming years, the analyst tells investors in a research note. Roth adds that it believes that two years from now, investors looking at the company’s prospects will be comfortable valuing the shares at more than $60 per share.