BUZZ-Green Dot gains after raising annual profit forecast
Reuters
Aug 12
BUZZ-Green Dot gains after raising annual profit forecast
** Digital bank Green Dot's GDOT.N shares jump 18.8% to $11.80 premarket
** GDOT raised annual adjusted profit forecast on Monday, betting on increasing demand for banking as a service (BaaS) with its new and expanding partnerships
** GDOT is continuing to pick up traction and build on momentum, says Northland Capital analyst Mike Grondahl
** Brokerage raises PT to $16 from $14, implying a 61% upside to stock's last close
** Two of 3 brokerages rate the stock "buy" and 1 "hold"; median PT is $14 - data compiled by LSEG
** As of last close, GDOT shares down 6.7% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
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