Square Shares Rise on Stifel Nicolaus Analyst Upgrade
The mobile payment company was trading up Tuesday after analysts with Stifel Nicolaus boosted their rating to "Buy" from "Hold"
Shares of Square (SQ) - Get Report were climbing in Tuesday morning trading after analysts with Stifel Nicolaus upgraded the stock to "buy" from "hold" and set a price target of $15. Stifel Nicolaus noted that "Square has generated better-than-expected top-line growth despite investor concerns surrounding the competitive threats and the size of the actual addressable market." The analysts added that Square has managed to demonstrate "strong execution" in developing its platform since the firm's initial public offering last November. Shares of Square are now up roughly 30% over the past three months.
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