Market Overview

UPDATE: Piper Jaffray Initiates Blackhawk Network with Overweight on Gift/Prepaid Card Growth

Share:
Related
Blackhawk Network Partners with Opengate on Prepaid Content in South Africa
Blackhawk Network Acquires Retailo

In a report published Tuesday, Piper Jaffray analyst Michael J. Grondahl initiated coverage on Blackhawk Network Holdings (NASDAQ: HAWK) with an Overweight rating and $27.50 price target.

In the report, Grondahl noted, “We believe HAWK represents a compelling way to play the growth of prepaid and gift cards. HAWK's extensive distribution channels and content partners position it well for growth. Furthermore, additional penetration of best practices and loyalty plans among distributors represents a significant opportunity going forward. We believe HAWK can grow revenue in the 20%+ range and its capital-light financial model generates ~22% + long-term adj. EBITDA margins.”

Blackhawk Network Holdings closed on Monday at $24.81.

Posted-In: Piper JaffrayAnalyst Color Initiation Analyst Ratings

 

Related Articles (HAWK)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
BBCIBCUpgrades0.0
BKNGWells FargoUpgrades0.0
DARJP MorganUpgrades25.0
EEXBarclaysDowngrades12.0
HPCredit SuisseUpgrades65.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

Benzinga's Top Initiations

UPDATE: Sterne Agee Downgrades Cree to Neutral on Potential Disruption