Business

Upbeat outlook boosts Groupon shares

Groupon Inc.’s stock is up 57 percent this year.

Reuters/File 2011

Groupon Inc.’s stock is up 57 percent this year.

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Shares of Groupon jumped after Deutsche Bank AG analysts upgraded the stock, citing optimism that increasing use of its mobile app can boost sales. Groupon, which started out promoting discounts via e-mail alerts, is adding customers as more smartphone users turn to its mobile app, said analyst Ross Sandler. Revenue will surge 53 percent to $3.56 billion in 2015 over last year, he estimated. Analysts on average projected 2015 sales of $3.04 billion, Bloomberg reported.

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