Shares of Square (NYSE: SQ) climbed more than 6% on Monday, following the release of a bullish analyst note from investment bank Barclays.
Barclays analyst Ramsey El-Assal reiterated his "overweight" rating on Square's stock and boosted his target price from $90 to $115.
El-Assal believes that Square's merchants will be able to bounce back from the coronavirus pandemic better than many investors currently expect. He also predicts that strong demand for Square's Paycheck Protection Program loans will help to offset declines in its Square Capital lending business during the COVID-19 crisis.
Source Fool.com