$Square(SQ)$ Square reiterated with BUY rating and a $315 price target at Jefferies
Jefferies sees 'clear path ahead for the bull case' for Square after Q3 report
Following Square's (SQ) Q3 gross profit miss and "implied guide-below" for Q4, Jefferies analyst Trevor Williams thinks Q4 estimates should be largely de-risked and argues that Cash App growth appears to have stabilized in October, which he also believes de-risks Q4. Given his view that Q1 has "multiple positive catalysts," including the first year of Credit Karma Tax being integrated into Cash App and the expected close of the Afterpay (AFTPF) acquisition, he sees "a clear path ahead for the bull case." Williams maintains a Buy rating and $315 price target on Square shares