CREDIT SUISSE: GrubHub’s recent acquisition may take time to pay off (GRUB)

Fresh on the heels of the company’s $287.5 million Eat24 acquisition, Credit Suisse analyst Paul Bieber has downgraded GrubHub, citing “uncertainty on acquisition accretion.”
“We are lowering our rating as we believe shares reflect an optimistic scenario for accretion from recent acquisitions,” he wrote in a note published Monday morning.
In short, Credit Suisse believes any growth from the Eat24 buyout will be slow, and could take a full year to materialize.