KeyBanc raised the firm’s price target on Block to $85 from $75 and keeps an Overweight rating on the shares. The firm cites survey results indicating solid core POS trends and strong representation in front-office capabilities, including CRM and email marketing that may drive continued adoption from SMBs in the wake of ongoing vendor consolidation. That said, KeyBanc still reserves caution around the macro-related softness, particularly as it relates to discretionary spend.
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