Keefe, Bruyette & Woods Starts NetSpend (NTSP) at Outperform; Rising Tide Lifts All Boats, but It May Be Choppy

Keefe, Bruyette & Woods initiates coverage on NetSpend (NASDAQ: NTSP) with a Outperform. PT $8.00.

"We believe the prepaid card industry is a significant growth opportunity within the payments space particularly given the large number of unbanked/underbanked consumers domestically and abroad. We also believe that the movement from paper-based payments mechanisms to electronic is additive to growth...We are establishing 2011, 2012 and 2013 EPS estimates of $0.45, $0.54 and $0.62, respectively."

For an analyst ratings summary and ratings history on NetSpend click here. For more ratings news on NetSpend click here.

Shares of NetSpend closed at $5.70 yesterday.

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