Compass Point Boosts PT on Green Dot (GDOT) to $23 on Positive Data Points
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Price: $13.44 +0.75%
Rating Summary:
5 Buy, 24 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
5 Buy, 24 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Compass Point reiterated its Buy rating and raised its price target on Green Dot (NYSE: GDOT) from $20 to $23 Tuesday amid a string of positive data points.
Analyst Douglas Greiner comments, "Immediately following 1Q'13 earnings results we upgraded our rating to Buy from Neutral. We were concerned primarily about the risk of further deterioration in the core business and secondarily about limited takeout value. Both of these concerns were proven incorrect during 1Q'13. 1Q'13 EPS beat our expectations and the consensus earnings estimate. Direct competitor NTSP was sold to TSYS in late February for $16 per share representing a valuation of 20x forward EPS and 13.9x trailing EBITDA. Yesterday a third positive data point surfaced. GDOT announced an agreement to purchase assets and assume liabilities from GE Capital Retail Bank. Taking into account the string of positive data points, we raise our price target from $20 to $23."
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 $19.34 yesterday.
Analyst Douglas Greiner comments, "Immediately following 1Q'13 earnings results we upgraded our rating to Buy from Neutral. We were concerned primarily about the risk of further deterioration in the core business and secondarily about limited takeout value. Both of these concerns were proven incorrect during 1Q'13. 1Q'13 EPS beat our expectations and the consensus earnings estimate. Direct competitor NTSP was sold to TSYS in late February for $16 per share representing a valuation of 20x forward EPS and 13.9x trailing EBITDA. Yesterday a third positive data point surfaced. GDOT announced an agreement to purchase assets and assume liabilities from GE Capital Retail Bank. Taking into account the string of positive data points, we raise our price target from $20 to $23."
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 $19.34 yesterday.
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