Groupon Inc. (GRPN) Will Not Hit $20

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HFA Staff
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A report today from Benchmark Co. gives Groupon Inc. (NASDAQ:GRPN) a price target of $20. That’s the same price that the firm’s IPO was set at. The firm’s stock opened today at $9 and is now trading up over 7% at 9.60. That is a serious rise to expect from the company. The analysts, Clayton F. Moran and Daniel L. Kurnos, suggests that the end of the firm’s IPO lock up will be a driver for future success. 93% of the shares were held in lock up until last Friday. The firm’s founders have pledged to keep their 33% of the…

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