UPDATE: Morgan Stanley Reiterates On Green Dot Corporation Following Tax Processor Acquisition

In a report published Friday, Morgan Stanley analyst Smittipon Srethapramote reiterated an Equal-Weight rating on

, and raised the price target from !9.00 to $20.00. In the report, Morgan Stanley noted, “The TPG acquisition should help address concerns about exposure to WMT. However, growth in the core business has disappointed for two quarters in a row and will likely weigh down on the multiple. Remain EW.” Green Dot Corporation closed on Thursday at $19.60.