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Fly News Breaks for February 21, 2020
SQ
Feb 21, 2020 | 06:03 EDT
Citi analyst Peter Christiansen raised the firm's price target on Square to $99 from $80 and keeps a Buy rating on the shares. The analyst remains bullish on the shares but has become concerned that recent pre-earnings/pre-investor day positioning has become "over-heated." As such, the analyst is tactically removing the stock from his Top 10 Ranked Stock Ideas List. Square is up 37% year-to-date, and some of the recent gains can be attributable to increased takeover speculation and implications related to new Instant Deposit pricing in "Seller," Christiansen tells investors in a research note.