Groupon Surges as Mobile App Seen Boosting Coupon Use
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Groupon Inc., the biggest daily deal website, jumped 12 percent after analysts at Deutsche Bank AG upgraded the stock, citing optimism that increasing use of the company’s mobile application can boost sales.
The shares rose to $7.65 at the close in New York, for the biggest gain since March 1. The stock has advanced 57 percent this year, compared with a 14 percent gain in the Standard & Poor’s 500 Index.