Shares of Square Inc. are up 1.5% in premarket trading Thursday after Instinet's Dan Dolev raised his price target on the stock to $82 from $65. "The launch of Square for Restaurants marks Square's entry into the $650-700 billion U.S. restaurant industry," Dolev wrote. "We see at least ~30% potential upside to adj. revenue over a three-year period, a combination of payment processing revenue and cross-selling of ancillary software and services." He said that while all merchant acquirers have restaurant exposure, Global Payments Inc. seems "most at risk" to disruption by Square. Shares of Square are up 180% over the past 12 months, while the S&P 500 has gained 14%.