What happened Shares of Groupon (NASDAQ: GRPN) climbed today, up by 5% as of 11 a.m. EDT, after getting a bullish vote of confidence from Wall Street. Ascendiant Capital boosted its price target on Groupon stock, pointing to economic recoveries. So what Ascendiant Capital analyst Edward Woo increased his price target on Groupon shares from $42 to $70 following the e-commerce technology company's first-quarter earnings release last month, which beat analyst expectations. Ascendiant Capital reiterated its overall buy rating on Groupon, suggesting that the stock offers a compelling risk/reward profile for investors at current prices. Image source: Groupon. Economies in North America are recovering strongly as vaccines are distributed, leading to "significant improvements" in Groupon's business. North America is "improving much faster than International due to improved vaccine rollouts and reopened economies," Woo said. North America is Groupon's largest geographical segment, with gross bookings of $382.5 million in the first quarter, compared to international gross bookings of $171.4 million. Now what Woo's new price target represents 56% potential upside from yesterday's closing price. Groupon continues to transition to a third-party marketplace model. That shift has already been completed in North America, and the company says that the international segment's transition will be "substantially complete" by early in the third quarter. Groupon raised its full-year guidance last month and now expects to generate revenue of $950 million to $990 million in 2021, which should translate into adjusted EBITDA of $110 million to $120 million. 10 stocks we like better than GrouponWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Groupon wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source