Citi analyst Andrew Schmidt upgraded Green Dot to Neutral from Sell following the announcement that activist Starboard Value has taken a 9.3% stake in the company, stating that investor expectations regarding activist actions will now likely support the stock. An activist timeline over 3-4 months might include influence on the CEO selection, obtaining seats on the board and providing an improvement plan, while strategic alternatives are "likely to be evaluated and encouraged," Schmidt tells investors. He raised his price target on Green Dot shares to $34 from $22.