Canaccord lowered the firm’s price target on Block (XYZ) to $100 from $120 and keeps a Buy rating on the shares. The firm said Block’s Q4 gross profit was in-line with guidance, adj. EPS missed consensus expectations. In addition, Q1 and 2025 gross profit guidance was also shy of consensus expectations. Q1 is expected to be the low point in terms of gross profit with sequential acceleration through the rest of the year.
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