Block Inc. (XYZ) PT Raised to $70 at Truist Securities

Truist Securities analyst Matthew Coad raised the price target on Block Inc. (NYSE: XYZ) to $70.00 (from $65.00) while maintaining a Sell rating.

The analyst comments "Following its 2Q earnings report, we update our Block model and conduct a deep dive on their short-term financing product for consumers, 'Cash App Borrow', as the success of Borrow is generating the majority of Block's current re-acceleration in top-line growth. We continue to be relatively cautious on the shares as we believe the Street is not taking into consideration the impact of credit losses and the working capital needed for Block to grow their lending products at this robust pace. We are -15% below the Street on 2026 adjusted EPS and prefer peers such as Fiserv (FI, Buy) and Toast (TOST, Buy) as a result. Our price target increases to $70 from $65 previously."

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