(Bloomberg) — GrubHub shares are trading higher Friday after Barclays raised its investment opinion two notches, to overweight from underweight.The “irrational competitive landscape” in online food delivery over the past 15 months, and GrubHub executives’ “ill-timed strategic investments, and poor execution” have resulted in the stock plunging 75% to two-year lows, analyst Deepak Mathivanan told clients. As such, Mathivanan has a few requests for the GrubHub board of directors, and upgraded “on the hope of swift execution.”One request to the board is to explore consolidation with another leading food delivery player, which should result in “meaningful synergies.” Mathivanan believes that …read more
Source:: Yahoo Finance
