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Why This FinTech Firm Reminds One Analyst of Tesla

What do you call a financial-technology company whose stock is up 75% this year as investors bank on its ability to bring a disruptive product into the mainstream? The “ Tesla of Payments,” apparently.

That’s the way to describe Square, according to Mizuho analyst Thomas McCrohan, who began covering the company on Tuesday. The key question for Square is whether it can scale its business up to serve larger customers, and McCrohan is optimistic about the payment processor’s ability to do so while still making money. He rates shares at Buy and thinks they could fetch $28, 17% above current levels.

Tesla happens to be up 74% this year. Tesla and...


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