Block price target raised to $105 from $96 at Wells Fargo

Wells Fargo analyst Jeff Cantwell raised the firm’s price target on Block to $105 from $96 and keeps an Overweight rating on the shares following the company’s "positive" Q4 earnings results. The analyst noted that Block’s Cash App GP grew by 64%, driven by Cash App Card. Additionally, Wells noted that Block’s $1.3B FY23 EBITDA guidance "reflects a strong operating outlook."