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Fly News Breaks for April 12, 2019
GDOT
Apr 12, 2019 | 07:22 EDT
Needham analyst Mayank Tandon initiated Green Dot with a Buy rating and a price target of $75, citing the company's position as a "diversified payments company" operating a "sizable prepaid debit card business, a tax services division, and a rapidly growing 'Banking-as-a-Service' group." The analyst sees Green Dot's end markets giving the company a "sizable runway" for growth and also believes that it is in a "regulatory sweet spot" with a "U.S. banking license" as well as an asset- light balance sheet that "provides favorable rates on interchange income" while reducing credit risk.
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