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Fly News Breaks for March 7, 2019
GDOT
Mar 7, 2019 | 06:48 EDT
Loop Capital analyst Joseph Vafi kept his Buy rating and $100 price target on Green Dot, saying the "material price decline" of the stock since reporting Q4 results in unwarranted. The analyst sees the company's tax business, which is "off to a slow start" this year, as a "cash cow" rather than a "growth driver". Vafi further notes that if investors' concern about the "tough P&L comps" after material acceleration in earnings last year is the "worst thing going on", than the stock may be offering a "real buying opportunity for the first time in a year."
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