UPDATE: Goldman Sachs Initiates Blackhawk Network at Buy on Enhanced Store Productivity

Analysts at Goldman Sachs initiated coverage Blackhack Network (NASDAQ: HAWK) with a Buy rating and a one year price target of $28, an increase of 12.9 percent from its current price of $24.81.

In the report, Goldman wrote, “As a leading third-party gift card distributor and processor, HAWK has a well established niche in one of the fastest-growing segments of payments. In the near term, we believe HAWK will benefit from enhanced store productivity (i.e., load value per store), new product ramp including prepaid telecom, international growth, and new distribution channels, including its digital efforts.”

Shares are trading up in the premarket at $24.96.