Payments Reboot: BofA Restarts Coverage with 5 Buys and Attractive Entry Points
BofA reinstates coverage with Buy ratings on Visa, Mastercard, Block, Affirm, Klarna — Neutral on PayPal.
BofA reinstates coverage with Buy ratings on Visa, Mastercard, Block, Affirm, Klarna — Neutral on PayPal.
Jack Dorsey’s Block slashes workforce by nearly half (4,000 jobs) to become AI-first. Strong 2025 growth + stock jumps 24% after bold restructure.
Block (XYZ) stock drops after cautious remarks from its Business Lead at UBS’s 2025 Tech & AI Conference, highlighting slowing growth and seasonal pressures.
Block expects faster profit growth through 2028, driven by Cash App and Square integration, AI tools, and new product launches.
Truist upgrades Block from Sell to Hold with $68 price target, citing improved risk/reward after recent stock pullback and stronger Square segment momentum.
Block's Q3 earnings miss sends shares tumbling 10% as Square growth slows and adjusted EPS falls short of Wall Street estimates despite Cash App gains.