Block price target raised to $103 from $100 at Barclays

Barclays analyst Ramsey El-Assal raised the firm’s price target on Block to $103 from $100 and keeps an Overweight rating on the shares ahead of the company’s Q4 results. Block’s hiring appears to have fallen precipitously in Q4, potentially highlighting the company’s more proactive approach on profitability, the analyst tells investors in a research note. The firm believes Street estimates for gross profit seem achievable in Q4, and says engagement on Cash App, Seller and Afterpay remain solid per its channel checks.