BofA Upgrades Square To Neutral

November 30, 2021 7:57 AM | 1 min read | Make a Comment

BofA analyst Jason Kupferberg upgraded Square Inc SQ to Neutral from Underperform with a price target of $221, up from $210, implying a 3.85% upside.
The "deceleration risk" of the company's Cash App business has been "more appropriately" priced in as the stock now trades 25% below August highs and 15% since reporting a Q3 earnings miss earlier this month.
Kupferberg adds that he hesitates to take a more constructive stance on Square until better visibility on the near-term and medium-term trajectory of the Cash App gross profit.
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Price Action: SQ shares traded higher by 0.2% at $213.30 in the premarket session on the last check Tuesday.