Sterne Agee Reiterates Buy, $37 On Green Dot

In a note out today, Sterne Agee reiterated a buy rating and $37 price target on Green Dot

, implying significant upside from where the shares currently trade. “Green Dot remains very bullish on the overall general purpose reloadable (

) opportunity. While the large population of unbanked and underbanked consumers is the natural target for GPR cards, Green Dot believes that a much wider set of the population could find utility with its cards. To this end, the company sees a market opportunity among 160mn consumers in the U.S.,” Sterne Agee said in the note.