Another article by Barrons. Same Author, SQ has now traded over 300,000 shares in PRE=MARKET.
The fellow at Wells Fargo, IMO, seems late to the party. What made him choose to write a research report on a Stock that he thinks will go down. Unless he knows someone who is Short??? Only a guess. I am sticking with the Nomura Fellow. We should be hearing from him soon. Please Scroll. Tlsmd .
Square's on a Tear, but One Analyst Is Showing Caution -- Barrons.com
24 minutes ago - DJNF
By Emily Bary
Can anything dent Square's rally?
Shares of the payment processor are up 230% this year, which includes a 40% rise in the last month alone. That came as the company reported strong earnings, introduced a new point-of-sale system, rolled out a way for users of its peer-to-peer platform to buy and sell Bitcoin, and gained a new fan along the way.
Wells Fargo analyst Timothy Willi isn't ready to jump on the bandwagon just yet. He entered the fray Tuesday, initiating coverage of Square's stock for the firm with a Market Perform rating and a target price of $42, 7% below Monday's close of $45.21.
"Investors should not interpret our Market Perform rating as a reflection of business fundamentals, but rather, our realistic expectation for near-term share price performance," he writes. "Given exceptionally strong year-to-date performance, and after evaluating a number of different valuation metrics, we believe Square's upside potential is limited over the next 12-18 months."
He's upbeat on Square's ability to attract larger merchants and post strong earnings growth.
Square shares are up 1.3% in pre-market trading.
(END) Dow Jones Newswires
November 21, 2017 08:43 ET (13:43 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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