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Fly News Breaks for August 8, 2019
Aug 8, 2019 | 08:51 EDT
Needham analyst Mayank Tandon lowered his price target on Green Dot to $42 after its "sharply" below-consensus Q3 guidance and lowered FY19 outlook, driven by the "additional prepaid card headwinds" and a later than expected launch of the new Green Dot Unlimited account. The analyst still keeps his Buy rating on Green Dot ahead of the "significantly lower" open in the stock price this morning, saying the implied 9-times forward earnings multiple remains favorable for value investors.
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