Morgan Stanley upgraded Groupon to “overweight” from “equal weight” causing the daily deal company’s stock shares to jump by as much as 13 percent. The reason for Morgan Stanley’s apparent change of heart is a shift in the competitive landscape. Daily deal clones are still coming to market, but there is no evidence they are gaining any significant traction, according to a client note written by Morgan Stanley analyst Scott Devitt. Even the biggest competitors — LivingSocial, AmazonLocal and Google Offers — have not gained meaningful traction.
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Groupon Basks in Morgan Stanley's Praise
Posted by: Erika Morphy June 19, 2012 12:49 PMMorgan Stanley upgraded Groupon to “overweight” from “equal weight” causing the daily deal company’s stock shares to jump by as much as 13 percent. The reason for Morgan Stanley’s apparent change of heart is a shift in the competitive landscape. Daily deal clones are still coming to market, but there is no evidence they are gaining any significant traction, according to a client note written by Morgan Stanley analyst Scott Devitt. Even the biggest competitors — LivingSocial, AmazonLocal and Google Offers — have not gained meaningful traction.