Green Dot (NYSE:GDOT) is expected to expand upon their strong growth trend into 2011 and beyond, according to Wedbush.
Wedbush said, "We believe Green Dot will continue its rapid growth into 2011 and beyond, with balanced growth going forward as longer card life and more active users help build on card activations ... Direct deposit represents opportunity, not sign of shortcoming...We believe reloadable prepaid interchange last in line to be reduced, since category has no real enemies...Enhanced share liquidity ready to facilitate position building."
Wedbush reaffirms an "Outperform" rating on Green Dot, which closed Friday at $56.74, gaining $1.64, or 2.98 percent. Wedbush raised their price target on Green Dot from $60 to $65.
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