UPDATE: Jefferies Downgrades Green Dot Corporation to Hold Following Lowered Guidance - Green Dot (NYSE:GDOT)

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Jefferies reduced its rating on Green Dot Corporation (NYSE: GDOT) from Buy to Hold and lowered its price target from $29 to $19. Jefferies noted, "We are downgrading GDOT to a Hold rating following the company's sizable F12 guide-down announced on last night's 2Q earnings call. We now believe we likely misjudged GDOT's ability to weather increased competitive and regulatory pressures (and acknowledge mgmt's sizeable challenge ahead to improve deeply negative investor sentiment)."Green Dot Corporation closed at $23.32 on Thursday.

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