2 days ago
Block price target raised to $90 from $75 at Bernstein
Bernstein analyst Harshita Rawat raised the firm's price target on Block (XYZ) to $90 from $75 and keeps an Outperform rating on the shares. The firm sees potential for improving numbers, and valuation is 'undemanding' at 23x GAAP PE with roughly 17% of market cap as gross cash and the balance sheet. While Block is already a popular long trade, long-only involvement is lacking, but now potentially catalyzed by the inclusion on the S&P 500, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
