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Block price target raised to $75 from $70 at Wolfe Research

Wolfe Research analyst Darrin Peller raised the firm's price target on Block (XYZ) to $75 from $70 and keeps an Outperform rating on the shares. Block's last two quarterly reports brought incremental doubt from shareholders with them and shares are down 32% year-to-date, the analyst tells investors. However, the firm sees Block's strategy creating value, with recent data-points pointing to Block as a share gainer with potential for multiple expansion and earnings upside, the analyst says. 78% of investors surveyed believe the company should buy back more stock, and 'we agree,' the analyst added. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on XYZ: Disclaimer & DisclosureReport an Issue Mixed options sentiment in Block Inc (XYZ), with shares up $0.84 (+1.47%) near $57.85 Lone Pine buys Capital One, cuts Block in Q1 Appaloosa buys Deutsche Bank, exits FedEx in Q1 Chase Coleman's Tiger Global buys Zillow, boosts PDD in Q1 Mixed options sentiment in Block Inc (XYZ), with shares down $-0.99 (-1.69%) near $57.51