Block price target raised by $8 at BofA, here’s why

BofA analyst Jason Kupferberg raised the firm’s price target on Block to $85 from $77 and keeps a Buy rating on the shares. Following a virtual meeting with Block’s IR Tori Winders, the firm concludes that Block management has become re-focused on improving day-today execution, especially in the Square business, the analyst tells investors. The firm, which remains confident in the business model quality, expects to see results from Block’s re-focused strategy, adding that cost and efficiency have become bigger priorities.