Keefe Bruyette analyst Vasundhara Govil lowered the firm’s price target on Block (XYZ) to $70 from $80 and keeps an Outperform rating on the shares following the Q1 report. The company’s updated outlook bakes in additional conservatism, and its growth initiatives should help growth ramp in the second half of the year, but Block remains a “show me” story, the analyst tells investors in a research note.
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Read More on XYZ:
- Buy Rating for Block: Undervaluation, Strategic Initiatives, and Long-term Growth Prospects
- Block downgraded to Hold from Buy at Seaport Research
- Block price target lowered to $70 from $110 at BTIG
- Optimistic Yet Cautious: Andrew Jeffrey’s Buy Rating on Block Amid Growth Potential and Strategic Challenges
- Block’s Strategic Initiatives and Differentiated Ecosystem Drive Buy Rating Despite Challenges