Block upgraded to Outperform from Perform at Oppenheimer

Oppenheimer upgraded Block (SQ) to Outperform from Perform with a $115 price target Recent investments in product and sales should drive accelerated Gross Payment Volume at Square, the analyst tells investors in a research note. Additionally, the firm believes Block may achieve the Rule of 40 earlier than its 2026 target and that Block’s bitcoin mining strategy could drive incremental gross profit. The firm thinks potential negative regulatory impacts will be manageable on Fintech companies in 2025, and the incoming U.S. presidential administration may soften threats.