Investors should think twice about fleeing Block stock after website connectivity issues, according to Baird Equity Research.
The firm reiterated an outperform rating on Block in a Monday note, and designated shares as a bullish fresh pick.
However, Baird lowered its price target on the stock to $72 from $92, or about 36% upside from Friday's $53.08 close.
SQ YTD mountain Block stock.
The analyst added that payment issues at large firms like Block have typically abated in the short term and helped jumpstart a stock recovery.
Persons:
Baird, David Koning, Koning, — CNBC's Michael Bloom
Organizations:
Baird Equity Research
Locations:
jumpstart