Green Dot (GDOT) Lower on 'Old News' Says BTIG

January 8, 2014 1:57 PM EST
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Price: $26.11 +1.95%

Rating Summary:
    10 Buy, 22 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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Green Dot (NYSE: GDOT) traded lower on old news, said analyst Mark Palmer of BTIG.

"Shares in buy-rated Green Dot Corporation (GDOT) came under pressure today after a competitor released a report indicating that its channel checks indicated that the company is offering its prepaid general purpose reloadable (GPR) prepaid debit cards at a $0 price point at various Rite Aid locations," said the analyst.

Its Palmer's view, this is old news, and he cited comments from CEO Steve Streit in June.

Palmer is likely referring to a report by Janney. Janney rates Green Dot Sell with a price target of $15. BTIG has a Buy rating on Green Dot with a price target of $31.00.

For an analyst ratings summary and ratings history on Green Dot (NYSE: GDOT) click here. For more ratings news on Green Dot click here.

Shares of Green Dot closed at $24.90 yesterday.

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