BUZZ-Block rises after BMO upgrades to 'outperform'

Shares of payments firm Block XYZ.N rise 1.4% to $69.28 premarket

BMO Capital Markets upgrades XYZ to "outperform" from "market perform," saying that it sees an attractive entry point following the Q4 results sell-off

XYZ stock slumped 17.7% on Friday as a slowdown in spending growth fueled investor concerns

Brokerage says the Street estimates now have less downside risk, while the sentiment is more balanced

Adds that it sees potential for sentiment to improve through 2025 as Block's Cash App and Square accelerate gross profit growth

XYZ's valuation is attractive, especially if estimates have indeed bottomed - BMO

Brokerage, however, cuts XYZ PT to $89 from $100

New PT is 30.2% upside to stock's last close

35 of 44 brokerages rate the stock "buy" or higher, six "hold" and three "sell"; their median PT is $100, according to data compiled by LSEG

XYZ stock down 19.6% YTD