Credit Suisse upgrades Square Inc.

Square, Inc. (NYSE:SQ) enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses.

Credit Suisse had upgraded Square to outperform from neutral on Wednesday. Anticipating a rise in revenue that could push share value 35 percent to $15 within the next year.

“We believe Square’s years of product investment and brand building put it ahead of the competition for integrated small business payments solutions and expect the company can sustain high 20% to mid-30% volume growth in the near to mid-term,” analyst Paul Condra wrote in a note to clients.

Square went public last November at $9 per share, the stock fell as low as $8.06 in February and as high as $15.91 in March.  Shares of Square have gained 15% in the past three months.

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