Nomura Securities Starts Green Dot (GDOT) at Neutral; First-Mover Disadvantage?
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Price: $13.53 +0.15%
Rating Summary:
5 Buy, 24 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 24 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities initiates coverage on Green Dot (NYSE: GDOT) with a Neutral. PT $36.00.
Nomura analyst, Bill Carcache, said, "Green Dot has developed an enviable nationwide distribution network, consisting of ~58,000 locations that provide it with access to most of the U.S. population. Prepaid represents an attractive vehicle for bringing the US’s 60mn unbanked/underbanked into the financial mainstream. While we like the outlook for growth in the prepaid industry, we do not view current valuation compelling enough to be more constructive on the shares. Our FY’12 and FY’13 EPS ests are $2.01 and $2.42, respectively. Our px tgt implies ~15x 2013E core EPS and ~18x 2013E GAAP EPS."
For an analyst ratings summary and ratings history on Green Dot click here. For more ratings news on Green Dot click here.
Shares of Green Dot closed at $31.93 yesterday.
Nomura analyst, Bill Carcache, said, "Green Dot has developed an enviable nationwide distribution network, consisting of ~58,000 locations that provide it with access to most of the U.S. population. Prepaid represents an attractive vehicle for bringing the US’s 60mn unbanked/underbanked into the financial mainstream. While we like the outlook for growth in the prepaid industry, we do not view current valuation compelling enough to be more constructive on the shares. Our FY’12 and FY’13 EPS ests are $2.01 and $2.42, respectively. Our px tgt implies ~15x 2013E core EPS and ~18x 2013E GAAP EPS."
For an analyst ratings summary and ratings history on Green Dot click here. For more ratings news on Green Dot click here.
Shares of Green Dot closed at $31.93 yesterday.
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