Wells Fargo Raises Estimates But Maintains Square (SQ) PT at $255
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Wells Fargo analyst Timothy Wayne Willi reiterated an Equal Weight rating and $255.00 price target on Square (NYSE: SQ) after the company reported strong Q1 results, helped by stimulus payments.
The analyst stated "on an underlying basis,we believe performance was stronger than expected, and anticipate this momentum tocontinue forward". "Our 2021 EPS estimate moves to $1.66 from $1.32. We now expect gross profit growth of 57% to $4.3B, up from our previous estimate of 44% growth. For 2022,our EPS estimate is $2.18, up from $1.80."
Shares of Square closed at $216.43 yesterday.
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