AFTPY - Block stock gains as KeyBanc raised price target to $180

Block (NYSE:SQ +7.9%) is trading higher after KeyBanc Capital Markets maintained its overweight rating and raised its price target from $175 to $180 a share, implies ~25% increase from the current price. The company's acquisition of Buy Now, Pay Later platform Afterpay (OTCPK:AFTPY) is potentially transformative featuring an unusually large number of synergy categories, a byproduct stemming from an industry-first deal that spans two distinct consumer-merchant ecosystems, says KeyBanc analyst Josh Beck. His analysis indicates a range of scenarios from $0.8B to $5B gross profit synergy run-rate, which at the low end would produce a 20% ROIC and 100%+ at the high end. He says that the company is well positioned to benefit from a shifting FinTech industry landscape that favors two-sided ecosystem synergies, BNPL-driven commerce, SuperApps, and crypto optionality, thus Beck continues to recommend Block as a key idea. On March 30, 2022, Black (SQ) and peer Paypal (PYPL) landed Buy ratings by

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Block stock gains as KeyBanc raised price target to $180