JP Morgan Rates Green Dot As Bona Fide Growth Stock

Green Dot Corporation (NYSE:GDOT) is viewed as a bona fide growth stock by JP Morgan, which states that the company has several market forces encouraging the demand for its core general purpose re-loadable (GPR) prepaid debit cards.

Awareness is building, according to JP Morgan, as the GPR prepaid cards are less that 17% penetrated in core under-banked markets. Walmart is a critical partner, JP Morgan reports, backed by a 5% equity interest and withstanding contract to May 2015.

JP Morgan initiates with an Overweight and $60 price target.

Green Dot Corporation closed yesterday at $49.85.

See Some of the Top Moving Indexes Here.