Deutsche Bank raised its Square (SQ, $134.80) price target to $140 from $120 ahead of the release of Q2 results on Wednesday. The consensus is calling for a loss of five cents a share on revenue of $1.13 billion. The firm thinks the Cash App product can produce upside to estimates. 

Deutsche Bank expects seller growth to strengthen over time as consumer spending improves.

Square shares today rose 3.8% and hit a new all-time high at $136.12.