Deutsche Bank Starts Green Dot (GDOT) at Buy; Capitalizing on the Underbanked

Deutsche Bank initiates coverage on Green Dot (NYSE: GDOT) with a Buy. PT $41.00.

Deutsche analyst says, "We believe GDOT is in the driver seat to capitalize in the explosive growth in prepaid. With most of the recent regulatory risks behind the company, GDOT can focus on driving usage and new cards to the huge untapped target market. We believe GDOT will benefit from recent regulatory changes caused by the Durbin Amendment which should be positive for the prepaid industry. In our view, recent weakness in the shares creates an excellent buying opportunity."

For more ratings news on Green Dot click here and for the rating history of Green Dot click here.

Shares of Green Dot closed at $29.62 yesterday.

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