Published on 30 Nov 2021 on Market Watch
Jack Dorsey is 'all in' on Square now, and this analyst thinks it improves outlook for stock
Square Inc. Chief Executive Jack Dorsey will have more time to focus on the payments company now that he’s stepping down from the CEO post at Twitter Inc., and that has one analyst feeling better about Square’s stock.
Bank of America analyst Jason Kupferberg upgraded Square’s stock to neutral from underperform Tuesday, writing that Dorsey is now “all in” on Square, which made Kupferberg “incrementally encouraged” about the company’s prospects. He boosted his price objective to $221 from $210, while Square shares, which were off 2.1% in Tuesday’s session, recently changed hands at $208.50.