Needham raised the firm’s price target on Block (XYZ) to $100 from $80 and keeps a Buy rating on the shares. The company posted upbeat Q2 results with strong growth in the Square segment, driven by both retail and mid-market, and better-than-expected growth in Cash App, fueled by Borrow, Card, and BNPL, the analyst tells investors in a research note. Even with the shares set to open up about 7% on the stronger outlook, the risk-reward is favorable, the firm added.
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