Citi raised the firm’s price target on Block (XYZ) to $100 from $85 and keeps a Buy rating on the shares. The company reported solid Q1 results with acceleration in Cash App growth, the analyst tells investors in a research note. Citi believes Block’s AI investments are paying off.
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Read More on XYZ:
- Block price target raised to $90 from $85 at Keefe Bruyette
- Block Earns Top-Pick Buy as Strong Beat, Guidance Raise, and AI-Driven Leverage Prompt Price Target Hike to $101
- Closing Bell Movers: Trade Desk, Expedia fall after earnings
- Notable companies reporting after market close
- Block reports Q1 adjusted EPS 85c, consensus 68c