- (PLX AI) - Block shares rose more than 5% after analysts at Bank of America upgrade the company to buy from neutral, saying it was quite undervalued.
- • Price target cut to $185 from $221
- • The market is valuing Cash App at a bargain, BofA said, and the shares also have lagged due to the general sell-off in growth stocks and limited visibility
- • Block will need to reinstate top-line guidance in its upcoming earnings report to regain investor confidence, the analysts said
- • The price target implies a 70% upside from yesterday's close
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