BTIG analyst Mark Palmer believes Square (SQ) investors should be concerned that First Data (FDC) has agreed to be acquired by Fiserv (FISV), stating that even before this morning's announcement he believed that First Data's Clover point-of-sale payment platform would represent an increasingly significant threat to Square. First Data's focus with Clover is on middle-sized merchants, which Square is targeting for growth, and Clover "will now be backed by a fintech giant with deep pockets that intends to accelerate the growth of the platform," Palmer tells investors. He maintains a Sell rating and $30 price target on Square shares.

As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on... To see the rest of the story go to thefly.com. See Story Here