Block price target lowered to $75 from $96 at JPMorgan

JPMorgan analyst Tien-tsin Huang lowered the firm’s price target on Block to $75 from $96 and keeps an Overweight rating on the shares. The analyst established December 2024 price targets for the payments and processors group, saying much of the sector continues to trade near multi-year lows, with valuations compressed well beyond historical averages relative to the S&P 500 Index. The firm assumes the “relative bearish sentiment” remains, but sees “healthy upside” for its top picks.