Block price target raised to $95 from $80 at Wolfe Research

Wolfe Research analyst Darrin Peller raised the firm’s price target on Block to $95 from $80 and keeps an Outperform rating on the shares. The company reported Q4 earnings above the Street on gross profit and adjusted EBITDA, and January and February trends were strong in Cash App, the analyst tells investors in a research note. Recent trends disclosed by the company suggest the model may be more resilient to recession sensitivity, says the firm.