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Square stock slips after Craig Hallum downgrades to sell

Square Inc. SQ, -6.33% shares are down 5.1% in Friday's consultation after Craig Hallum Capital team analyst Brad Berning downgraded the stock to promote. "Competition is tired of Square winning and they are bringing scale, lower pricing, and functionality," Berning wrote, singling out First Data Corp. FDC, -3.09% and its Clover product. "Any transactions over $10 or $15 will mostly likely be cheaper to use First Data's Clover over Square." VeriFone Systems Inc. VERI, -Zero.45% could also be operating on a similar payment-processing product. Berning joins analysts from Morningstar and BTIG as the lone Square bears. Of the 34 analysts who duvet the stock, in step with FactSet, 17 fee it a buy, 14 fee it a grasp, and three name it a promote. Earlier, analysts from Mizuho raised their price target on shares and cited the corporate's coffee-discount program for Square Cash customers. Deutsche Bank analysts additionally hiked their target price. Square shares are up 211% over the past 12 months, while the S&P 500 SPX, -2.10% is up 12%.