Block price target raised to $70 from $69 at Mizuho

Mizuho analyst Dan Dolev raised the firm’s price target on Block (SQ) to $70 from $69 and keeps a Neutral rating on the shares as part of the firm’s FinTech & Payments team providing its 2023 outlook for sub-sectors in the group against a backdrop of higher rates, high inflation, and a slowing macro. The group’s top picks include Fiserv, Toast (TOST), FIS (FIS) and Robinhood (HOOD), while they are cautious on Upstart (UPST), Coinbase (COIN) and Block.