Block Inc. (XYZ) PT Raised to $94 at BofA Securities

BofA Securities analyst Jason Kupferberg raised the price target on Block Inc. (NYSE: XYZ) to $94.00 (from $88.00) while maintaining a Buy rating.

The analyst comments "Buy-rated Block (XYZ) reported solid 2Q results, boosted by strong performance in the Square business and improving trends in Cash App. Full-year guidance was raised and the company struck a positive tone noting it is “back on offense”. Overall, we think there is a lot to like in 2Q results. The prior ’25 guide embedded macro deterioration that has not materialized, so we are not altogether surprised by the uptick in guidance. XYZ is continuing to incorporate a dynamic macro in its outlook but is also accounting for strong execution and the growth levers it expects to pull in 2H. Reiterate Buy and increase PO to $94."

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