Why Block Stock Zoomed 10% Higher in June
Block (NYSE: XYZ) had a decent, if unspectacular, June, ultimately emerging from the month with a 10% gain in share price. A product launch in an important market overseas, announced as we approached July, was a catalyst, as were several positive analyst notes across the preceding weeks.
In the opening days of the month, Block earned a recommendation upgrade from Evercore ISI, whose analyst Adam Frisch ticked up his rating to outperform (buy, in other words) from in line (hold). With that, he also substantially increased his price target to $75 per share from the former $58.
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Source Fool.com
