DA Davidson Starts NetSpend (NTSP) at Buy; Benefit From Strong Secular Prepaid Growth; Recent Lows Present Attractive Entry
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Price: $15.98 --0%
Rating Summary:
1 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
1 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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DA Davidson initiates coverage on NetSpend (NASDAQ: NTSP) with a Buy. PT $15. (5 Yr/Long-Term PT $30)
DA analyst says, "We believe the prepaid industry is in the early stages of a very strong secular growth cycle, fueled by a large number of “under” banked (60 million according to the FDIC) and a growing number of consumers seeking low cost simple banking and payment solutions. Further, given a weak employment market and deteriorating credit scores, both of which are increasing bank fees, a growing segment of the population."
"With total costs lower than average checking account usage fees, and incrementally less than simply using cash, NetSpend’s general purpose reloadable (GPR) cards satisfy the core banking and electronic payment needs of individuals who cannot obtain, or choose not to have, a bank account. Features also include bill pay, alerts, person-to-person transfers, interest-bearing savings (currently 5%) and overdraft protection up to $10."
For more ratings news on NetSpend click here and for the rating history of NetSpend click here.
Shares of NetSpend closed at $10.52 yesterday.
DA analyst says, "We believe the prepaid industry is in the early stages of a very strong secular growth cycle, fueled by a large number of “under” banked (60 million according to the FDIC) and a growing number of consumers seeking low cost simple banking and payment solutions. Further, given a weak employment market and deteriorating credit scores, both of which are increasing bank fees, a growing segment of the population."
"With total costs lower than average checking account usage fees, and incrementally less than simply using cash, NetSpend’s general purpose reloadable (GPR) cards satisfy the core banking and electronic payment needs of individuals who cannot obtain, or choose not to have, a bank account. Features also include bill pay, alerts, person-to-person transfers, interest-bearing savings (currently 5%) and overdraft protection up to $10."
For more ratings news on NetSpend click here and for the rating history of NetSpend click here.
Shares of NetSpend closed at $10.52 yesterday.
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