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Fly News Breaks for June 21, 2018
SQ
Jun 21, 2018 | 05:55 EDT
Nomura Instinet analyst Dan Dolev raised his price target for Square to $82 from $65 and keeps a Buy rating on the shares. The launch of Square for Restaurants marks Square's entry into the $650B-$700B U.S. restaurant industry Dolev tells investors in a research note titled "SQ for Restaurants Will Eat Everyone's Lunch." He sees "at least" 30% potential upside to adjusted revenue over a three-year period from a combination of payment processing revenue and cross-selling of ancillary software and services.
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