New York, April 17 (FinanceEnquiry.com) – Analysts at Deutsche Bank Securities keep their BUY rating on the shares of Green Dot Corporation (NYSE: GDOT). The 12-month target price is set to $41.
In a research note published yesterday, the analysts mention that Green Dot is expected to post $142.3 million in 1Q12 revenue and EPS of $0.46 on April 26. There would have been a growth of 23.6% in revenues, discounting the loss of the intuit agreement of $8 million in 1Q11. The company must be able to weather the competitive risks from AXP’s Bluebird card and NTSP’s concentration on retail channel, given its product line and current relationships of the retailer, the analysts add.
Moreover, Green Dot is also expected to start showing upside as the INTU headwinds subside, secular prepaid trends persist and the company rolls out its new checking product at retail locations.
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