Wedbush Reiterates Outperform Rating On Green Dot

According to Wedbush, Green Dot (NASDAQ: GDOT) Outperform rating is reiterated.

Wedbush said that it believes Green Dot will continue its impressive 30%+ top line growth as it leads the rapidly evolving reloadable prepaid category. “Reiterate OUTPERFORM and $68 price target. Our target reflects a 32x multiple on our 2012 estimate, in line with our long-term growth estimate, which we believe is justified by upside to estimates from incremental opportunities (e.g. IRS contract or bank deal), market leadership and unique value to a potential acquirer.”

Green Dot closed yesterday at $34.19.