Square (SQ) Expands to Australia - Morgan Stanley

Morgan Stanley analyst James Faucette reiterated an Equalweight rating and $245.00 price target on Square (NYSE: SQ) after the company announced it will be rolling out its Square Capital solution to the Australian market.

The analyst stated "We estimate that Square Capital contributed ~$140M of annual revenues to the company prior to Covid-19. However, at the start of the pandemic, Square stopped originating loans through Square Capital and has slowly ramped those volumes back up."

For an analyst ratings summary and ratings history on Square click here. For more ratings news on Square click here.

Shares of Square closed at $274.00 yesterday.

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