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Groupon Shares Rally After Morgan Stanley Upgrade

Shares of e-commerce marketplace, Groupon Inc. (NASDAQ: GRPN) gained sharply on Thursday after Morgan Stanley upgraded the stock to a “buy”, citing  turnaround in North American region due to the introduction of the deal bank. Besides, in the research report, Morgan Stanley’s equity analyst, Scott Devitt also said that Groupon’s growing revenue from mobile business is raising confidence that the company will soon be able to stage a turnaround in other regions such as Europe, The Middle-East and Africa and benefit from sizable market opportunity. So far this year, the Stock has gained 126%.

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