Benzinga | Nov 30, 2021 04:44PM EST

BofA Upgrades Square To Neutral

* BofA analyst Jason Kupferberg upgraded Square Inc (NYSE:SQ) to Neutral from Underperform with a price target of $221, up from $210, implying a 3.85% upside.

* The "deceleration risk" of the company's Cash App business has been "more appropriately" priced in as the stock now trades 25% below August highs and 15% since reporting a Q3 earnings miss earlier this month.

* Kupferberg adds that he hesitates to take a more constructive stance on Square until better visibility on the near-term and medium-term trajectory of the Cash App gross profit.

* Related Content: What's Up With Square's Stock Following Dorsey News?

* Price Action: SQ shares traded higher by 0.2% at $213.30 in the premarket session on the last check Tuesday.