Block shares rise as Scotiabank starts coverage with $82 target
Block Inc. shares rose after Scotiabank initiated coverage with a “Sector Perform” rating and an $82 price target, citing execution and a lower cost base.
Shares of Block Inc. (XYZ) rose on Wednesday after Scotiabank started coverage of the stock with a “Sector Perform” rating. The bank set an $82 price target on the XYZ shares, pointing to better execution, a structurally lower cost base and one of the more distinct consumer and seller ecosystems in the space.