Mizuho upgraded Block to Buy from Neutral with a price target of $93, up from $80. The analyst applauds management’s recent commitment to cost containment and the firm’s cost analysis shows up to 30% potential upside to Block’s 2023 EBITDA guidance. In addition, Block "remains uniquely positioned" to achieve the ‘holy grail’ of creating a one-stop-shop network by connecting the point-of-sale, Cash App and buy now pay later ecosystems, the analyst tells investors in a research note. The firm says the company’s "pivot to profitability" warrants an upgrade to Buy.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on SQ:
- Cathie Wood’s Buying Spree Features Familiar Names
- Uncovering Block’s (NYSE:SQ) Impressive Growth Story Beyond Bitcoin
- SQ, MELI, or V: Which Fintech Stock Could Pay the Best Returns?
- Best Growth Stocks to Buy Now, According to Analysts
- SQ LAWSUIT ALERT: Levi & Korsinsky Notifies Block, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline
