Oppenheimer raised the firm’s price target on Block (XYZ) to $89 from $85 and keeps an Outperform rating on the shares. The firm notes Block delivered a strong Q4 and 2026 financial guide. Importantly, Block announced a major organizational shift, reducing its workforce by 40%-plus to operate with smaller, highly skilled teams and accelerate automation through AI, and supporting 2026 earnings targets well ahead of the consensus estimate. Meanwhile, in Q4 Cash App engagement strengthened, with Block adding another 1M monthly transacting actives in the quarter, on top of the 1M added in Q3.
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