UPDATE: Wedbush Downgrades Green Dot Corporation to Neutral, Lowers PT
In a report published Friday, Wedbush Securities downgraded its rating on Green Dot Corporation (NYSE: GDOT) from Outperform to Neutral, and lowered its price target from $43.00 to $19.00.
Wedbush noted, “We believe visibility into Green Dot's growth has been diminished, leading us to downgrade shares to NEUTRAL from OUTPERFORM. We continue to consider Green Dot the leader in the fast growing GPR market, but struggle to get comfortable with its ability to benefit from this growth in the current state of flux.”
Green Dot Corporation closed on Thursday at $23.32.
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Tags: Wedbush Securities