Block Sinks 3% as Morgan Stanley Downgrade Warns “Bullish Expectations” Raise Risk Ahead of Q3
Block shares fell 3% after Morgan Stanley downgraded the stock to Equal Weight and lowered its price target, citing concerns over a slowdown in Cash App Borrow loan growth and potential credit losses. Analysts are closely watching Block's upcoming Q3 earnings report on November 3rd for signs of slowing loss growth. Despite these concerns, the article suggests the stock's current valuation already reflects significant doubt.
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