Block price target raised to $65 from $55 at Wells Fargo

Wells Fargo raised the firm’s price target on Block to $65 from $55 and keeps an Equal Weight rating on the shares ahead of its Q4 results. The management’s plan to deliver margin expansion and sustain growth is in place, though the degree of conservatism in this plan remains unclear, the analyst tells investors in a research note. Competitive dynamics have intensified, but there’s a pathway for growth acceleration from Block’s salesforce verticalization efforts and upmarket sellers, the firm added.