Investors should add to Block holdings, says Truist

Truist analyst Andrew Jeffrey keeps a Buy rating and $105 price target on Block, stating that the firm is "increasingly convinced" that detractors have a hollow argument. Truist adds that while some negative comments among the critics "have merit", they "materially miss" the larger picture as Block’s Cash App is a legitimate digital consumer and SMB alternative to traditional checking/debit accounts that do a poor job serving an emerging generation of savers, spenders and entrepreneurs.