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Square, United Rated Buys; Logitech, ResMed Downgraded

Shares of Square climbed Tuesday after analysts upgraded the mobile payments company. (Square)

Wall Street analysts on Tuesday issued fresh buy ratings on Square (SQ) and United Airlines (UAL), while downgrading Logitech International (LOGI) and ResMed (RMD).

Square Upgraded

Investment bank Stifel Nicolaus upgraded shares of Square to buy from hold and set a price target of 15. Square stock jumped 4.8% to close at 12.39 on the stock market today.

Stifel turned bullish on the mobile payments processing firm, citing increased confidence in Square's ability to show sustainable growth.

"Square has generated better-than-expected top-line growth despite investor concerns surrounding the competitive threats and the size of the actual addressable market," Stifel analyst Scott Devitt said in a report.


IBD'S TAKE: Square went public late last year amid a lull in IPO activity that has persisted this year, though there are signs of a resurgence in new issues on the way.


United Airlines Seen Rising

Imperial Capital initiated coverage of United Continental with an outperform rating and a price target of 57. The Chicago-based airline climbed 1.15% Tuesday to 47.49.

Last week, CEO Oscar Munoz has made his first major management changes since taking the helm last September. The airline announced Thursday that Andrew Levy will serve as the new chief financial officer and Julia Haywood as the new chief commercial officer.

Logitech Downgraded

Investment bank UBS downgraded shares of Logitech International to neutral after a steep run-up in the stock's price.

Logitech, a maker of peripherals for PCs and mobile devices, saw its shares climb 24% after the company reported better-than-expected fiscal first-quarter earnings on July 27.

Logitech stock fell 1.3% Tuesday to 21.82.

ResMed Rating Cut

Investment bank Jefferies downgraded medical device firm ResMed to underperform with a price target of 58.

ResMed stock lost 3.5% to 67.32.

ResMed makes devices to treat or help manage sleep-disordered breathing like sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions.

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