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Monness Crespi analyst Gus Gala lowered the firm’s price target on Block (XYZ) to $75 from $115 and keeps a Buy rating on the shares. Noting that the stock is trading near the “bottom decile of legacy merchant acquirer takeouts,” the firm remains positive on the prospects of banking the base at CashApp with BNPL and improved product and go-to-market at Square, the analyst tells investors.

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