UPDATE: Square (SQ) PT Raised to $320 at Citi on Improving Sentiment and Reopening

April 12, 2021 11:27 PM EDT
Get Alerts SQ Hot Sheet
Price: $233.35 +4.19%

Rating Summary:
    29 Buy, 18 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 38 | Down: 18 | New: 7
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(Updated - April 13, 2021 6:05 AM EDT)

Citi analyst Peter Christiansen raised the price target on Square (NYSE: SQ) to $320.00 (from $265.00) while maintaining a Buy rating on expected sentiment improvement over the next 2-3 quarters from:
1) strong Cash App scale acceleration
2) an improving rate of recovery in the Seller business

The analyst stated "We expect good execution in 1Q, though the timing of stimulus / re-opening likely impacts 2Q more so – 1Q stored funds and the quarter ahead outlook should be the primary focus. We lift our TP from $265 to $320 on rising confidence for near term upward revisions and rolling-forward our “market expectations” model."

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