HSBC upgraded Block (XYZ) to Buy from Hold with a price target of $77, up from $70. The firm “materially” increased earnings estimates after Block’s Q4 results to reflect accelerating profitability. The company’s job cuts are not coming from a position of weakness as the business and financial performance are “healthy,” the analyst tells investors in a research note. HSBC sees 20% upside in Block shares following the selloff in 2026.
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