Credit Suisse Starts Square (SQ) at Neutral
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Credit Suisse initiates coverage on Square (NYSE: SQ) with a Neutral rating and a price target of $12.00, saying valuation is full.
Analyst Paul Condra commented, "We are positive on SQ’s growth trajectory and the quality of its offering, but initiate at Neutral owing to a high valuation (41x 2017 EV/EBITDA) and the potential for near-term share dilution from stock options. While the strong growth deserves a premium, we believe investors may find better entry points if the stock is volatile."
Shares of Square closed at $11.34 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Upgrades Square (SQ) to Buy
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- Pivotal Research Downgrades Kroger (KR) to Hold
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!