Jefferies analyst Trevor Williams raised the firm’s price target on Block (XYZ) to $70 from $60 and keeps a Buy rating on the shares. The April update for Cash App growth having re-accelerated back to the low-teens gives the firm confidence that Q1 issues were isolated to behavior linked to tax refunds in March, rather than a major structural shift, and made clear the Q2 and updated fiscal year guidance now embed “meaningful conservatism,” the analyst tells investors.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XYZ:
- Block upgraded to Outperform from Neutral at BNP Paribas Exane
- Insider Moves: Super Micro, Block, JPMorgan, Plug Power, McDonald’s
- Optimistic Outlook on Block’s Growth Potential Driven by Cash App’s Credit Expansion and Attractive Valuation
- Block price target raised to $75 from $70 at Wolfe Research
- Mixed options sentiment in Block Inc (XYZ), with shares up $0.84 (+1.47%) near $57.85
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue