Raymond James upgraded Block shares to outperform, setting a target price of $115, indicating a 33% upside. Analyst John Davis expressed increased confidence in Block’s growth potential, driven by seller gross payment volumes (GPV), which he believes can accelerate into the double digits by 2025. Despite a recent 33% rise in Block’s shares, the firm finds the valuation attractive. Davis noted challenges with Cash App’s flat net new actives but believes improved engagement should help maintain gross profit growth. Overall, 36 of 48 analysts rate Block as a buy, with an average target suggesting a 14% increase.
