Block price target raised to $86 from $76 at Citi

Citi raised the firm’s price target on Block to $86 from $76 and keeps a Buy rating on the shares. There is “a lot to like” about Block’s Q4 report, namely “speedy” restructuring execution resulting in a 25% EBITDA beat and 10% outlook hike, rising CashApp Card penetration, inflows reaccelerating, improving monetization along with CashApp Pay now showing momentum, the analyst tells investors in a research note. The firm now thinks “there’s good reason for improving sentiment (multiple expansion) to gain steam.”