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Fly News Breaks for May 9, 2019
GDOT
May 9, 2019 | 08:13 EDT
Needham analyst Mayank Tandon lowered his price target on Green Dot to $60, saying that while the company's Q1 results were strong, its announcement of stepped up investment and a cut to FY19 earnings drove a sizable stock price decline during extended hours. The analyst is keeping his Buy rating on Green Dot however and sees risk-reward setting up well at current levels. Tandon also believes that the company's strong balance sheet and plans to "execute" on a $100M accelerated share buyback should "limit the downside risk."
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