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Groupon (GRPN) Stock Surges on Ratings Upgrade

NEW YORK (TheStreet) -- Shares of Groupon (GRPN) are advancing 8.17% to $3.78 in Monday morning trading after Piper Jaffray raised its rating on the stock to "overweight" from "neutral."

The firm hiked its price target on shares of the e-commerce marketplace to $6 from $4.

Groupon's new management's market spend should drive customer acquisition, Piper Jaffray wrote in a note cited by the Fly.

Additionally, Wall Street isn't factoring in Groupon's gross profit...


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