Why Block Stock Charged Higher on Monday
Shares of Block (NYSE: SQ) surged higher Monday, jumping as much as 10.1%. As of 12:15 p.m. ET, the stock was still up 8.6%.
The catalyst that sent the fintech specialist higher was an optimistic outlook by a Wall Street analyst.
BMO Capital analyst James Fotheringham issued positive commentary and upgraded Block stock to outperform (buy) from market perform (hold), while maintaining a price target of $159. That suggests potential upside for investors of roughly 33% over the coming year.
Source Fool.com