BofA likes the company’s earnings potential and thinks Block shares should fetch a higher valuation
Block Inc. shares have seen a “massive pullback” since the end of July, but BofA Global Research analyst Jason Kupferberg sees a buying opportunity in the payment-technology name.
Investors could get some positive profit news even before that, however, as Kupferberg sees the possibility that Block raises its 2023 adjusted Ebitda outlook on its third-quarter earnings call in early November, owing to recent operating-expense discipline.Kupferberg also thinks that Block’s gross-profit growth should earn it a higher valuation.
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