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Morgan Stanley upgrades Groupon Rating.

20 Jun

Morgan Stanley has upgraded Groupon to "overweight" from "equal weight" causing the company’s shares to increase by up to 13%. The daily deal company is making significant inroads into the busy sector with none of its competitors showing any signs of threatening its market standing. However due to the volume of competitors in this sector this could soon change.

"It has become clear that the daily deal model is not one that can scale easily or without investing significant costs," noted finance professor Harlan Platt.

The upgrade has been welcomed by the company after bearing the brunt of the tech markets negativity since its IPO road show, when some of its early accounting metrics became an industry joke. Groupon posted expected revenues of $559.3 million, an 89 percent increase from the same period a year ago, giving investors pleasant surprise

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