Jefferies Starts NetSpend (NTSP) at Hold, Wait for Better Entry

Jefferies initiates coverage on NetSpend (NASDAQ: NTSP) with a Hold. PT $9.00.

The firm comments, "We believe NTSP's fundamental story remains attractive, as the company continues to benefit from a formidable distribution network and early mover advantage in the U.S. prepaid card market. Shares are up ~100% from Aug '11 trough levels, leaving current risk reward relatively balanced (shares are trading at 15.3x our F12E Pro Forma EPS). We await a more attractive entry point."

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 $8.34 yesterday.

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