GrubHub shares could get a boost Thursday after analysts at Argus initiated coverage of the online food delivery service with a Buy rating and $52 price target. The firm’s price target represents a potential 30% upside from the stock’s closing price on Wednesday. Argus expects the company’s revenue, which has posted solid growth since its merger with Seamless in 2013, to benefit from increases in the number of active diners placing orders on the site, growth in the number of restaurants appearing on its platform, as well as rising average commission rates.
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