BofA Cuts Target on Groupon to $11 On The Heels of Earnings

Bank of America lowered the price objective on Groupon (NASDAQ: GRPN ) from $13 to $11 Friday morning following a disappointing earnings report Thursday after the close. Paul Bieber, analyst at Bank of America, believes “Street EBITDA estimates are likely to come down by ~25-30%.” The $11 price objective