Groupon’s price target was raised by Brean Capital from $10 to $11 per share in a research note to investors on Monday. The research firm has a Buy rating on the stock and considers Groupon a top pick for 2015.

Groupon Inc Price Target Raised By Brean Capital

Analysts positive on Groupon

The report stated, “Progressive’s strategic effort to develop a bundled product platform, and the deal signals the company’s intention to further capture an increased share of the preferred market with more of a broad-based offering.”

In the last four weeks, Groupon shares are up by over 9%, and in the last three months, they are up by over 16%. In the past five trading sessions, shares of the company are up by over 9%, while year to date, shares are down by over 32%.

Groupon shares witnessed a significant decline in short interest for the month of November. Short interest totaled 89.3 million shares as of Nov. 28, a decline of 4.6% from the Nov. 14 total of about 93.6 million.

Ideeli performance report

Recently Groupon presented a progress report on the performance of fashion retailer Ideeli, which was acquired by the former for $43 million in cash earlier this year. With the acquisition of Ideeli, Groupon is geared up to take a bigger portion of the fashion market, as the company is positioned as the place where customers can buy anything they want, according to a spokesperson from Groupon. Fashion store offers have already lured shoppers onto the platform, and the company (citing research) says the off-price fashion market is expected to be around $40 billion.

According to Groupon, the site has performed well, becoming one of the fastest growing flash sales apparel sites in North America. At the end of the first quarter, billings and active customers spiked more than 15%, and the amount of branded sales, curated events, campaigns and products rose more than 400%.

Lisa Kennedy, president of Ideeli, noted that in 2014, customers gave a positive response, as the store has made it a point to expand its offerings to deliver even more world class brands at unbelievable value. Kennedy said as an outcome of their efforts, an increasing number of shoppers are visiting the store to pick up the latest trends in fashion through the website and mobile app.