Groupon (GRPN) shares were higher Monday after Wedbush Securities upgraded its rating on the stock to OUTPERFORM from NEUTRAL. The firm also raised its price target to $6.50 from $4.50. Analysts with Wedbush say Groupon currently has a "large valuation discrepancy" relative to its peers, but its 2016 fiscal third-quarter earnings should help close that gap. They added that the company's accelerating site traffic growth and improving deal inventory should result-in better-than-expected third-quarter results. Groupon is set to report third-quarter earnings next Wednesday.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.