Berenberg initiated coverage of Block with a Buy rating and $75 price target. Block’s share price has declined by more than 34% since the start of August, but its improving outlook for profitability reflects significant operating leverage and the pullback presents “an attractive entry point,” the analyst tells investors. The firm believes Block has reached an inflection point regarding its profit power and “has plenty of runway for increased profitability,” the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SQ:
- Block target lowered to $72, named ‘Bullish Fresh Pick’ at Baird
- ‘Tech Is Poised to Dominate’: Goldman Sachs Says Innovation and Growth Will Drive Future Success — Here Are 2 Names the Banking Giant Likes
- Square says engineers worked out solution for disruption
- FASB Approves Much-Awaited Change in Crypto Accounting Rules
- Block (NASDAQ:SQ) Slips after UBS Cuts Rating