RBC Raises Block Stock Price Target to $95.00 Amid Analysts' Optimism
Block Inc.'s (NYSE: XYZ) stock price target was raised by investment analysts at Royal Bank of Canada from $93.00 to $95.00, representing a potential upside of 20.64% from its previous close.
This new target comes after several other analysts also commented on Block's stock. Cantor Fitzgerald reaffirmed an 'overweight' rating and set a $95.00 price objective on shares of Block in a research report on Thursday, while Jefferies Financial Group began coverage on shares of Block with a 'hold' rating.
Robert W. Baird also set a target price on Block in a research report on Thursday, this time at $105.00. Deutsche Bank Aktiengesellschaft upgraded Block to a 'buy' rating in a report on Tuesday, June 30th.
Block's stock has traded down $5.45 during trading on Thursday, reaching $78.75. The company's debt-to-equity ratio is 0.26, with a quick ratio of 1.99 and a current ratio of 1.99.