Block Inc. (NYSE:XYZ) is one of the best cryptocurrency stocks to buy for the long term. On November 17, Truist Securities upgraded Block Inc. (NYSE:XYZ) to a Buy from a Hold and increased its price target to $68 from $67.
The upgrade comes at the backdrop of a significant pullback, which, according to the research firm, has resulted in an improved risk-reward profile. The 20% plus pullback in recent months has come on growing concerns about credit risks and rapid growth in the company’s Cash App Borrowing offering.
According to Truist Securities, the company’s Square segment continues to show improving momentum that should offset the risks. Consequently, the research firm has raised the company’s 2026 adjusted earnings per share forecast to $3.28, slightly above the $3.25 a share that analysts expect.
Meanwhile, analysts at TD Cowen have also reiterated similar sentiments, affirming a Buy rating on the stock and setting a $91 price target. According to the research firm, the stock appears oversold following its reaction to the third-quarter earnings. The research firm expects the company to deliver a 2026 outlook and new medium-term financial projections that meet market expectations.
Block, Inc. (NYSE:XYZ) is a financial technology company that provides a complementary set of services for both merchants and individuals, with a strong focus on integrating cryptocurrency, particularly Bitcoin, into its operations.
While we acknowledge the potential of XYZ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.