Jefferies raised the firm’s price target on Block (XYZ) to $95 from $90 and keeps a Buy rating on the shares as part of a Q3 earnings preview. The firm believes Square’s U.S. share gains, which it views as the most important driver for the stock, should gain momentum on another above-market acceleration in payment volume. Management messaging on Square’s runway should be upbeat as field sales and distribution partnerships ramp, the analyst tells investors in a research note.
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