Block rises; Evercore upgrades on growth prospects

ReutersJun 3, 2025 10:27 AM

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Fintech co Block's shares XYZ.N gain 2.7% premarket to $63.41

Evercore upgrades from "in line" to "outperform", PT from $58 to $75

Brokerage less worried about Cash App lending being too aggressive, understands co's risk/losses model

Notes low-end consumer spending trends benefit Cash App, expects co to benefit from Square's new products

Sales strategy expansion under Sales Lead and Afterpay co-founder Nick Molnar viewed as growth driver

Jefferies raises PT from $70 to $75, rates it "buy"

Avg rating by 45 analysts is "buy;" median PT $70 — as per data compiled by LSEG

As of last close, XYZ down 27.3% YTD

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