Why Block Stock Is Falling Today
Shares of Block (NYSE: SQ) were falling this morning after two analysts cut their price targets for the financial services and digital-payment platform company. The tech stock was down by 6.2% as of 10:35 a.m. ET.
Wells Fargo analyst Jeff Cantwell lowered his price target for Block's stock to $120, down from $165, and kept his overweight rating on the shares. Cantwell believes the company's upcoming second-quarter results -- which will be reported on Aug. 4 -- will be mixed.
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Source Fool.com
