From Jefferies
By Amit Chowdhry ● Today at 9:51 PM
- The shares of Block Inc (NYSE: SQ) have received a price target of $200 from Jefferies. These are the details.
The shares of Block Inc (NYSE: SQ) — the company formerly known as Square — have received a price target of $200 from Jefferies. And Jefferies analyst Trevor Williams reduced the price target on Block from $240 while maintaining a “Buy” rating on the shares.
Williams had cited the impact to high-growth multiples from a rising 10-year bond yield. And Williams is taking a more selective approach to 2022 in Payments, Processors & IT Services as the competitive disruption narrative may take a breather. For the company, the near-term view is still challenged until FY22 estimates are re-based.
But Williams views the current entry point as highly attractive for long-term investors — who added that Block remains one of his top picks despite him seeing a need for a Q4 clearing event.
