- Groupon (NASDAQ:GRPN) is bucking a major tech selloff after Wunderlich's Blake Harper upgraded the daily deals leader to Buy, while hiking his target by $4 to $10.
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Harper cites a survey (307 respondents) that shows "78% of respondents who recently purchased a Groupon intend to purchase another one within three months and most of the purchases (48%) would be for Local deals."
- He adds Groupon's "Pull" strategy, which aims to get would-be buyers to seek out Groupon's site/apps rather than respond to e-mails is paying off. "Email, or the company’s “Push” strategy, has declined to 20%-25% of transactions for the past four quarters and is expected to remain stable around that level for the foreseeable future." Barrington's Jeff Houston made similar observations last month.