One beaten-down financial services company is getting a little love from an analyst tracking the stock. On Friday, Green Dot (NYSE: GDOT) was the subject of a new, and very bullish, research note issued by Craig-Hallum prognosticator Bradley Berning. At is current level, the stock is undervalued by nearly 60%, Berning believes, and is well poised to spring higher. The analyst is reiterating his buy recommendation on Green Dot shares, and his $72 per share price target.
Green Dot is known for its prepaid debit cards, which are widely available in many retail stores and supermarkets. The company also operates as a bank, with a straightforward and low cost offering that targets first-time or otherwise unbanked individuals.