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Block price target lowered to $100 from $105 at Keefe Bruyette

Keefe Bruyette lowered the firm’s price target on Block (SQ) to $100 from $105 and keeps a Market Perform rating on the shares as part of a 2025 outlook for the financial technology group. This is the quarter when 2025 outlooks “will be front and center and will be the biggest driver of stock moves on the print,” the analyst tells investors in a research note. The firm says that while macro factors such as currency and fuel prices are likely headwinds relative to consensus estimates, it is optimistic about underlying core trends especially as consumer spending seems to be showing signs of improvement from Q3 levels. Adyen (ADYEY), PayPal (PYPL), Mastercard (MA), and FIS (FIS) are names Keefe is most positive on into the Q4 print

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