BTIG upgraded Block to Buy from Neutral with an $85 price target. The analyst sees the company’s growth opportunities paired with management’s focus on the bottom-line as “presenting an attractive investment opportunity” at current share levels. The core investment thesis is focused on Block’s “attractive position” between the consumer and merchant with its Cash App and Square ecosystems and potential for each segment to become stronger as integrations are built between them, the analyst tells investors in a research note. BTIG believes the Cash App and Square ecosystems are strong as individual units and have track records of providing value which it expects to continue in 2024.
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