Bernstein raised the firm’s price target on Block (SQ) to $120 from $90 and keeps an Outperform rating on the shares. The firm also named Block its new best idea heading into 2025. It sees a number of catalysts for the stock into next year, including Square volume acceleration, “significant” EBITDA growth from continued efficiency gains, likely lower regulatory scrutiny and potential for S&P 500 Index inclusion “at some point.” Square’s valuation is “deeply attractive” and 16% of its market capitalization is cash, the analyst tells investors in a research note. Bernstein expects a further $3.0B-$3.5B of cash flow generation through the end of 2025.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor 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 SQ:
- Macy’s uncovers employee fraud, Summit to be acquired: Morning Buzz
- Block, Five Below downgraded: Wall Street’s top analyst calls
- CFPB expands oversight to PayPal and Block, says New Street
- Block downgraded to Market Perform from Outperform at BMO Capital
- Block price target raised to $110 from $94 at Mizuho
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
