Wedbush Upgrades Square (SQ) to Neutral

Wedbush upgraded Square (NYSE: SQ) from Underperform to Neutral with a price target of $8.00.

Analyst Gil Luria commented, "We continue to believe Square is rapidly growing a business that may never reach peer profitability, which will become apparent as growth slows over the next couple of years on competition (May 6th downgrade), and expect increased regulatory scrutiny related to Square’s lending business (May 15th note). However, with shares down 31% (vs. +2.0% for S&P 500 in the same period) in less than two months, we believe these risks are more appropriately reflected in the share price and are changing our rating to NEUTRAL from UNDERPERFORM."

For an analyst ratings summary and ratings history on Square click here. For more ratings news on Square click here.

Shares of Square closed at $9.05 yesterday.

You May Also Be Interested In

• Evercore ISI Upgrades First Solar (FSLR) to Outperform
• Wells Fargo Upgrades Datadog (DDOG) to Overweight
• Boston Beer Company (SAM) PT Lowered to $325 at Jefferies