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Fly News Breaks for February 27, 2020
SQ
Feb 27, 2020 | 08:54 EDT
BTIG analyst Mark Palmer raised the firm's price target on Square to $37 from $30 but keeps a Sell rating on the shares. The analyst notes that the company beat on Q4 earnings with solid growth in gross payment volume and strong performance from its Cash App, but its FY20 guidance was soft and the valuation on the stock at 25-times his expected FY21 adj. EBITDA remains stretched.
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