KeyBanc raised the firm’s price target on Block to $100 from $90 and keeps an Overweight rating on the shares ahead of quarterly results. The firm is positive headed into the print as Block remains a key idea for KeyBanc. At a high level, alternative data trends across its proprietary credit/debit card and app-based data sources across Square and Cash App look broadly consistent to slightly better than the firm’s model, which suggests Block is poised to deliver a roughly in-line to better-than-expected set of results.
Published first on TheFly
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