SQ : Square still a three-bagger - Guggenheim • 8:01 AM
Instead of focusing on near-term noise, we think investors should focus on the compounding of EBITDA dollars that is about to occur, says Guggenheim. The team there sees nearly $3B in EBITDA and $4 in EPS in 2024 vs. $418M and $0.78 this year.
The stock is worth $195 per share vs. Friday’s close of $64.66, says Guggenheim.
While I like Square, I don’t think they mean it’s worth $195 today, but that it will be a three bagger by 2024, which makes more sense.