Shares of Block Inc (NYSE: SQ) rose in premarket trading on Tuesday, after struggling for several weeks on weak Bitcoin prices.
The performance of the company’s merchant segment is likely to improve, according to Wedbush.
The Block Analyst: Moshe Katri upgraded the rating for Block from Neutral to Outperform, while raising the price target from $70 to $90.
The Block Thesis: Management has taken a decision to focus on financial discipline, internal efficiencies, and GAAP earnings, Katri said in the upgrade note.
Check out other analyst stock ratings.
Management’s focus on profitability and …
Full story available on Benzinga.com