Block ‘increasingly likely’ to be added to S&P 500, says Barclays

Barclays analyst Ramsey El-Assal believes Block is “increasingly likely” to be included in the S&P 500 Index. The firm sees the inclusion as a potential catalyst for the shares. Block is a likely candidate to be added at the index’s next quarterly rebalancing, but this is “certainly not guaranteed,” the analyst tells investors in a research note. Barclays points out the company’s reporting of positive GAAP net income in Q4 makes it eligible for inclusion. With financial services possibly the second-most underweight industry category within the index, Block, with its $45B market cap, is a likely candidate for inclusion, contends Barclays.