UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Lowers PT on Green Dot Corporation as Margin Outlook Disappoints

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

, but lowered the price target from $22.00 to $19.00. In the report, Morgan Stanley noted, “GDOT disappoints with a 2015 outlook that contemplates no margin expansion, as upside from TPG acquisition is offset by several other moving pieces. We lower our PT $3 to $19 but remain EW due to valuation and growing revenue diversification.” Green Dot Corporation closed on Thursday at $19.85.