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Fly News Breaks for March 14, 2019
GDOT, WMT
Mar 14, 2019 | 07:34 EDT
SunTrust analyst Andrew Jeffrey lowers his price target on Green Dot (GDOT) to $90 to reflect the rising "equity risk premium" but also keeps his Buy rating and recommends that investors "add aggressively" into the stock price weakness. The analyst contends that the market is "overstating risk around the MoneyCard renewal at Walmart (WMT)", noting that as Green Dot's most important customer, the risk of losing this business is at near-zero. Jeffrey is also not concerned about the potential for higher BaaS competition given the large total addressable market , stating that Green Dot still retains its "first-mover advantage, vertical integration and reference customers" benefits.