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GrubHub: Despite the Rally, Further Upside, Says Canaccord

Canaccord Genuity’s Michael Graham today reiterates a Buy rating on the shares of online food ordering pioneer GrubHub (GRUB), and raises his price target to $48 from $42, arguing that a change of attitude has happened in the company’s favor. "We believe sentiment has transitioned over the past several months from 'scared-of-unicorns' to 'recognizing scale',” writes Graham, as he raises estimates.
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