BTIG raised the firm’s price target on Block (XYZ) to $80 from $70 and keeps a Buy rating on the shares ahead of the Q2 report on Thursday. The firm expects the company’s Cash App growth to improve while Square volume trends improve. Despite the shares rising 60% since the Q1 report, Block trades at a reasonable valuation based on its near- and long-term growth initiatives, the analyst tells investors in a research note.
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