Block downgraded to Market Perform from Outperform at Keefe Bruyette

Keefe Bruyette downgraded Block to Market Perform from Outperform with a price target of $75, down from $90. Block is facing a "growing number of risks" that will keep investors out of the name over the next year, primarily around rising competition in acquiring, and potential for regulatory scrutiny in Cash App, the analyst tells investors in a research note. The firm says "many small risks are starting to add up" for the company.