Block price target raised to $85 from $75 at Monness Crespi

Monness Crespi analyst Gus Gala raised the firm’s price target on Block to $85 from $75 and keeps a Buy rating on the shares. Entering the company’s Q4 results the firm is ahead of consensus estimates on EBITDA. The analyst thinks the 16% fall in shares year-to-date “presents a compelling entry point.”. The most important item into Q4 call is 2024 guidance updates and incremental color on assumptions embedded in the outlook, the analyst tells investors in a research note. Monness continues to like Block’s opportunity to re-accelerate growth in Square.