Why Block Stock Charged Higher on Tuesday

Shares of Block (NYSE: SQ) surged sharply higher Tuesday, jumping as much as 12.4%. As of 11:34 a.m. ET, the stock was still up 12%.

The market was in full-on rally mode, which no doubt helped push the stock higher. However, another catalyst that helped fuel the fintech specialist's run was bullish commentary by a Wall Street analyst.

Deutsche Bank analyst Bryan Keane significantly lowered his price target on Block stock, down to $95 from $155, while maintaining his buy rating on the stock. This new lower price point still represents potential gains for investors of more than 70%.

Source Fool.com