Block price target raised to $100 from $88 at Mizuho

Mizuho raised the firm’s price target on Block (XYZ) to $100 from $88 and keeps an Outperform rating on the shares. The firm views the company’s analyst as a “positive inflection in many ways.” The CEO offered mea culpas ranging from lack of adequate product velocity to prior organizational challenges, the analyst tells investors in a research note. Mizuho likes Block’s artificial intelligence product announcements but is “even more thrilled” about the company’s opportunity to lower the cost of acceptance by utilizing bitcoin rails.