UPDATE: Square (SQ) PT Raised to $50 at Mizuho Securities; 'Innovation Machine, Tesla of Payments'

(updated to add analyst comment)

Mizuho Securities raised its price target on Square (NYSE: SQ) to $50.00 (from $40.00) while maintaining a Buy rating.

Analyst Thomas McCrohan comments "With $71 billion of run-rate payment volume, the company still has a small share of the $3 trillion addressable market (U.S.), providing sufficient runway to support continued share gains. We view 2018 guidance as conservative relative to the outperformance witnessed in 2017 relative to their initial expectations."

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