Block shares are trading lower after UBS downgraded the stock from Buy to Neutral and lowered its price target from $102 to $65.
Portfolio Pulse from Benzinga Newsdesk
UBS has downgraded Block (formerly Square, symbol SQ) from Buy to Neutral and reduced its price target from $102 to $65. This has led to a decrease in the trading price of Block shares.
September 06, 2023 | 1:37 pm
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Block's stock has been downgraded by UBS from Buy to Neutral, with a reduced price target from $102 to $65. This has resulted in a decrease in the stock's trading price.
The downgrade by UBS from Buy to Neutral indicates a less optimistic outlook for Block's stock. Additionally, the reduction in price target from $102 to $65 suggests that UBS expects the stock to underperform in the near future. These factors have led to a decrease in the trading price of Block shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100