Compass Point Sees Wal-Mart Stores, Inc. Deal As Positive For Green Dot Corporation
In a report published Wednesday, Compass Point analyst Michael Tarkan reiterated a Buy rating and $27.00 price target on Green Dot Corporation (NYSE: GDOT).
In the report, Compass Point noted, “According to the New York Times, Green Dot and Walmart (WMT-NC) have reached an agreement to offer GoBank checking accounts in Walmart locations nationwide. The announcement is Walmart's latest push into financial services for underbanked individuals and follows a pilot program the two entities were running in 20 stores in Texas. We view this favorably for two key reasons: (1) it opens up a meaningful distribution channel for GoBank that serves 140 million customers in the U.S. on a weekly basis; and (2) it further strengthens the Walmart/Green Dot relationship ahead of the key general purpose reloadable (GPR) card contract renewal. We reiterate our Buy rating and $27 price target on GDOT shares.”
Green Dot Corporation closed on Tuesday at $18.82.
Latest Ratings for GDOT
Sep 2014 | Sterne Agee | Initiates Coverage on | Neutral | |
Sep 2014 | Raymond James | Downgrades | Market Perform | Underperform |
Aug 2014 | Jefferies | Maintains | Buy |
View More Analyst Ratings for GDOT
View the Latest Analyst Ratings
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