Block today responded to key questions raised by a recent short report on Cash App from how many of its users are unique/verified to how much it invests in compliance, Keefe Bruyette analyst Steven Kwok tells investors in a research note. The firm says the added disclosure could be sufficient to get investors more comfortable with the name. However, there are likely to be more questions going forward around possible fraudulent activity, says the analyst. KBW has an Outperform rating on Block with a $90 price target.
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