Wedbush analyst Gil Luria raised his price target on Square (NYSE: SQ) to $10.00 (from $8.00) following results but maintained a Neutral rating following strong results.

Luria commented, " We 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 and increased regulatory scrutiny related to Square’s lending business. However, Q2 was better than expected as these trends have yet to materialize. "

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Shares of Square closed at $10.44 yesterday.