Atlantic Equities Sees Substantial Growth Prospects In Square, Upgrades To Overweight

Atlantic Equities analyst Kunaal Malde upgraded Square Inc SQ to Overweight from Neutral with a $300 price target, implying a 29.11% upside.
The company's growth prospects "remain substantial" as it continues disrupting consumer and business banking through "strong execution against a digital-first strategy," Malde notes.
Square's Cash App is a leading brand with network effects, innovates quickly, and has "multiple monetization levers ahead," Malde says.
Further, Malde says the Afterpay acquisition adds incremental growth opportunities for Square in buy now pay later and commerce.
Malde recommends taking advantage of the recent pullback in the stock.
Price Action: SQ shares traded higher by 1.70% at $236.29 in the premarket session on the last check Tuesday.

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