ruuderay
2021-03-19
Weird
Analyst Makes Bull Case For Square Based On Music Potential
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The 169 million-strong Instagram following of Beyoncé could unleash a “hallo effect,” noted Barron’s.</p><p>Square’s purchase of Tidal could also help popularise Blockchain, the underlying technology that powers <b>Bitcoin</b> (CRYPTO: BTC).</p><p>BTC traded 1.73% lower at $58,000.69 at press time.</p><p><b>Price Action:</b> Square shares closed 9% lower at $224.30 on Thursday and rose 1.09% in the after-hours session to $226.75.</p><p>Latest Ratings for SQ</p><table><tbody><tr><th>Date</th><th>Firm</th><th>Action</th><th>From</th><th>To</th></tr></tbody><tbody><tr><td>Mar 2021</td><td>Redburn</td><td>Initiates Coverage On</td><td></td><td>Sell</td></tr><tr><td>Feb 2021</td><td><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a></td><td>Maintains</td><td></td><td>Equal-Weight</td></tr><tr><td>Feb 2021</td><td>Guggenheim</td><td>Upgrades</td><td>Neutral</td><td>Buy</td></tr></tbody></table>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAnalyst Makes Bull Case For Square Based On Music Potential\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-03-19 17:15</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><img src=\"https://s.yimg.com/uu/api/res/1.2/t1YpNZPCUwMI.7u6EJnf2w--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/Benzinga/7a300332f525df4ba11cd0b24b2abb4c\" tg-width=\"600\" tg-height=\"400\" referrerpolicy=\"no-referrer\"></p><p>Guggenheim analyst Jeff Cantwell is bullish on <b>Square Inc’s</b> (NASDAQ: SQ) purchase of Jay-Z’s Tidal, Barron’s reported Thursday.</p><p><b>What Happened: </b>“We like Square’s deal for Tidal,” wrote Cantwell in a note, as reported by Barron’s.</p><p>“We believe adding Tidal can be significant for Square, given clear synergies between the two companies.”</p><p>Cantwell upped his price target for Square to $290 from $288 and reiterated a Buy rating on the stock of the Jack Dorsey-led company.</p><p><b>Why It Matters: </b>Square purchased majority ownership in Tidal, a global music and entertainment platform, for 7 million in a cash-and-stock deal.</p><p>Cantwell expects Tidal to ultimately bump up Square’s annual incremental revenue by $110 million by the way of the payments app getting exposed to the music and entertainment business, as per Barron’s.</p><p>The analyst reportedly sees a possibility of Square becoming a platform for payments for music lessons and other associated revenue sources related to the entertainment industry.</p><p>Tidal co-owners include artists such as Beyoncé, Rihanna, and Madonna. The 169 million-strong Instagram following of Beyoncé could unleash a “hallo effect,” noted Barron’s.</p><p>Square’s purchase of Tidal could also help popularise Blockchain, the underlying technology that powers <b>Bitcoin</b> (CRYPTO: BTC).</p><p>BTC traded 1.73% lower at $58,000.69 at press time.</p><p><b>Price Action:</b> Square shares closed 9% lower at $224.30 on Thursday and rose 1.09% in the after-hours session to $226.75.</p><p>Latest Ratings for SQ</p><table><tbody><tr><th>Date</th><th>Firm</th><th>Action</th><th>From</th><th>To</th></tr></tbody><tbody><tr><td>Mar 2021</td><td>Redburn</td><td>Initiates Coverage On</td><td></td><td>Sell</td></tr><tr><td>Feb 2021</td><td><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a></td><td>Maintains</td><td></td><td>Equal-Weight</td></tr><tr><td>Feb 2021</td><td>Guggenheim</td><td>Upgrades</td><td>Neutral</td><td>Buy</td></tr></tbody></table>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/lJ9CGEFgjAAbrKM.oNUSUw--~B/aD00MDA7dz02MDA7YXBwaWQ9eXRhY2h5b24-/https://s.yimg.com/uu/api/res/1.2/1agPO327bFF2tPa8LgG0Gw--~B/aD00MDA7dz02MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/Benzinga/7a300332f525df4ba11cd0b24b2abb4c","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2120159191","content_text":"Guggenheim analyst Jeff Cantwell is bullish on Square Inc’s (NASDAQ: SQ) purchase of Jay-Z’s Tidal, Barron’s reported Thursday.What Happened: “We like Square’s deal for Tidal,” wrote Cantwell in a note, as reported by Barron’s.“We believe adding Tidal can be significant for Square, given clear synergies between the two companies.”Cantwell upped his price target for Square to $290 from $288 and reiterated a Buy rating on the stock of the Jack Dorsey-led company.Why It Matters: Square purchased majority ownership in Tidal, a global music and entertainment platform, for 7 million in a cash-and-stock deal.Cantwell expects Tidal to ultimately bump up Square’s annual incremental revenue by $110 million by the way of the payments app getting exposed to the music and entertainment business, as per Barron’s.The analyst reportedly sees a possibility of Square becoming a platform for payments for music lessons and other associated revenue sources related to the entertainment industry.Tidal co-owners include artists such as Beyoncé, Rihanna, and Madonna. The 169 million-strong Instagram following of Beyoncé could unleash a “hallo effect,” noted Barron’s.Square’s purchase of Tidal could also help popularise Blockchain, the underlying technology that powers Bitcoin (CRYPTO: BTC).BTC traded 1.73% lower at $58,000.69 at press time.Price Action: Square shares closed 9% lower at $224.30 on Thursday and rose 1.09% in the after-hours session to $226.75.Latest Ratings for SQDateFirmActionFromToMar 2021RedburnInitiates Coverage OnSellFeb 2021Morgan StanleyMaintainsEqual-WeightFeb 2021GuggenheimUpgradesNeutralBuy","news_type":1,"symbols_score_info":{"SQ":0.9}},"isVote":1,"tweetType":1,"viewCount":200,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":5,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/350314044"}
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