Block price target raised to $95 from $79 at Raymond James

Raymond James raised the firm’s price target on Block (XYZ) to $95 from $79 and keeps an Outperform rating on the shares. Block reported “impressive” Q2 results featuring 8% adjusted EBITDA upside on a 3% gross profit beat, with Cash App gross profit growth accelerating 600 basis points to 16%, the analyst tells investors in a research note. The firm’s thesis around accelerating Seller GPV growth and a strong second half for Cash App is intact.