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Fly News Breaks for March 15, 2017
GDOT
Mar 15, 2017 | 08:20 EDT
Loop Capital analyst Joseph Vafi believes it is becoming appropriate to revalue Green Dot higher as the company has solidified its position as the leader in the prepaid market and is now at the jumping off point to grow its other payment businesses and transform into a "real fin tech play." Based on an increased target multiple of 9x and newly introduced 2018 EBITDA estimates, he raised his price target on Green Dot shares to $41 from $33 and keeps a Buy rating on the stock.
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