Shares of point-of-sale payments specialist Square (NYSE:SQ) are rolling higher in Thursday trading, up 4.9% as of 1:35 p.m. EDT after analysts at German investment bank Deutsche Bank hiked their price target on the $157 stock all the way to $180 -- a 28.5% increase over the banker's previous valuation.

Deutsche Bank bases its new valuation on "significant potential near-term tailwinds" it sees supporting the stock now, followed by "sustainably higher long-term growth rates coming out of the pandemic" in the future. 

"The recent official breakout of the Seller and Consumer (Cash App) ecosystems as separate segments," says Deutsche Bank in a note covered by StreetInsider.com today, suggest that the 32% increase in gross profits that Square showed in the second quarter could soar as high as 53% growth in the third quarter -- and perhaps zoom as high as 61% in the fourth quarter.

More in category

Stock futures trade higher adding to gains
September 23, 2020FOX Business
Stock futures trade higher adding to gains
A little help from our friends: banks team up as FX trading gets tougher
September 22, 2020Reuters
A little help from our friends: banks team up as FX trading gets tougher
Roe v. Wade could hang in the balance of a SCOTUS fight — a reminder of the financial barriers that abortion seekers face
September 22, 2020MarketWatch
Roe v. Wade could hang in the balance of a SCOTUS fight — a reminder of the financial barriers that abortion seekers face
‘The only Republican with morals is a former Republican’: Mitt Romney gets full Twitter treatment
September 22, 2020MarketWatch
‘The only Republican with morals is a former Republican’: Mitt Romney gets full Twitter treatment
The stock market is a ‘great speculation’ at this point, and it’s time to raise cash, billionaire investor warns
September 22, 2020MarketWatch
The stock market is a ‘great speculation’ at this point, and it’s time to raise cash, billionaire investor warns
How far do stocks have to fall for Washington to take action? You may not like the answer
September 22, 2020MarketWatch
How far do stocks have to fall for Washington to take action? You may not like the answer
Opinion: Where to invest when climate change forces a tax on carbon and oil is no longer widely used
September 22, 2020MarketWatch
Opinion: Where to invest when climate change forces a tax on carbon and oil is no longer widely used
How Trump and Biden tax policies could affect your paycheck, tax return, investment portfolio and nest egg
September 21, 2020MarketWatch
How Trump and Biden tax policies could affect your paycheck, tax return, investment portfolio and nest egg
Jamie Dimon says he's OK with higher taxes on the rich, but wealth tax is 'almost impossible'
September 22, 2020CNBC
Jamie Dimon says he's OK with higher taxes on the rich, but wealth tax is 'almost impossible'
Sony slides 2% as Microsoft flashes cash to boost games lineup
September 22, 2020Reuters
Sony slides 2% as Microsoft flashes cash to boost games lineup
The number of Americans skipping mortgage payments drops to lowest level since April — but some borrowers face bigger challenges
September 22, 2020MarketWatch
The number of Americans skipping mortgage payments drops to lowest level since April — but some borrowers face bigger challenges
Justice Dept. Case Against Google Is Said to Focus on Search Dominance
September 22, 2020The NY Times
Justice Dept. Case Against Google Is Said to Focus on Search Dominance
Aurora Cannabis lost more than C$3 billion in a chaotic year and the stock is falling
September 22, 2020MarketWatch
Aurora Cannabis lost more than C$3 billion in a chaotic year and the stock is falling
Marriage linked to higher wages for some workers
September 22, 2020FOX Business
Marriage linked to higher wages for some workers
House hoping to avoid gov't shutdown with vote on temporary spending bill
September 22, 2020FOX Business
House hoping to avoid gov't shutdown with vote on temporary spending bill
Palantir forecasts revenue out to 2021 before going public
September 22, 2020MarketWatch
Palantir forecasts revenue out to 2021 before going public
Why Zoom Stock Jumped Today
September 22, 2020The Motley Fool
Why Zoom Stock Jumped Today
Asian stocks set to gain after Wall Street's tech bounce
September 22, 2020Reuters
Asian stocks set to gain after Wall Street's tech bounce
Nike beats profit estimates as online sales rise 82%; stock set for record high
September 22, 2020Reuters
Nike beats profit estimates as online sales rise 82%; stock set for record high
Cramer's lightning round: 'I think it's time to buy Fastly'
September 22, 2020CNBC
Cramer's lightning round: 'I think it's time to buy Fastly'
Musk: Tesla’s ‘Battery Day’ product won’t reach ‘serious high volume’ until 2022
September 21, 2020MarketWatch
Musk: Tesla’s ‘Battery Day’ product won’t reach ‘serious high volume’ until 2022