OpenTable rallies ahead of earnings on Citi upgrade

|By:, SA News Editor

Citi's Mark May has upgraded OpenTable (OPEN +2.9%) to Neutral ahead of the restaurant reservation platform's Thursday Q4 report, and raised hit PT to $74 from $68.

May thinks OpenTable's results will be at least in-line, is upbeat about the company's (mobile-focused) product cycle, and thinks there's less near-term risk of multiple compression.

Shares have gradually trended lower since soaring to new highs in November, following OpenTable's market-pleasing Q3 report.