Block price target raised to $90 from $80 at Truist

Truist analyst Andrew Jeffrey raised the firm’s price target on Block to $90 from $80 and keeps a Buy rating on the shares. The firm recognizes that Square segment volume and organic revenue growth likely need to reaccelerate for the stock to durably re-rate higher, but is more bullish than many on Cash App’s terminal value, as Truist sees it emerging as a legitimate Legacy FI debit card substitute with ample interchange monetization potential, the analyst tells investors in a research note.