As previously reported, Monness Crespi analyst Gus Gala upgraded Block (SQ) to Buy from Neutral with a $115 price target to reflect Cash App growth in monetization and users as well as unification of apps and distribution “diversification and seasoning” at Square. The firm also cites improving competitive positioning for Block with “key man risk” playing out at both Fiserv (FI) and Shift4 Payments (FOUR).
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