Barclays raised the firm’s price target on Block to $100 from $95 and keeps an Overweight rating on the shares. The analyst sees Cash App Pay as one of Block’s “powerful future growth drivers.” Based on the company’s early growth metric disclosures, the firm’s proprietary model forecasts a 9%-14% and 4%-7% impact to 2025 Cash App and total company gross profit, respectively. It raised out-year estimates for the company.
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