Barclays Downgrades Green Dot to Underweight, Announces $7 Price Target
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Ramsey El-Assal has downgraded Green Dot Corporation (NYSE:GDOT) from Equal-Weight to Underweight and set a new price target of $7. This change reflects a more bearish outlook on the company's stock by the analyst.
December 14, 2023 | 12:20 pm
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Barclays analyst downgrades Green Dot to Underweight with a $7 price target, indicating a bearish outlook which could negatively impact the stock price in the short term.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a decrease in stock price. The new price target of $7 suggests a significant downside from the current trading level, which could result in a sell-off of Green Dot shares.
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