SunTrust Raises Target On Square To $11 - Block (NYSE:SQ)

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Andrew Jeffrey of SunTrust Robinson Humphrey reiterated a Neutral rating on

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Square Inc

(NYSE: SQ), while raising the price target from $9 to $11."This higher target reflects industry-wide multiple expansion since our initiation and likely n-t revenue upside," Jeffrey explained.The analyst expects the company to beat the consensus expectations for 4Q15, while beating the CY16 revenue estimates, with Square Inc. pursuing growth investments and taking SMB payment share.However, a Neutral rating has been maintained due to "(1) lack of sustainable differentiation and (2) SQ's expensive valuation."The 4Q15 and CY16 revenue and EBITDA estimates have been maintained.