Block (XYZ) shares surged 8% as the fintech company prepares to join the S&P 500 Index on July 23, replacing Hess after Chevron’s acquisition. Stock is up 75% from its low in May. Analysts predict continued momentum, citing Block’s significant Bitcoin holdings and crypto ecosystem. Index inclusion could drive further growth.

Investors welcome Block’s index inclusion, boosting demand and liquidity. Experts anticipate indexers buying millions of XYZ shares, propelling sustained momentum. Analysts reaffirm “Outperform” rating on Block with a price target of $84, expecting 15% upside. Block’s crypto initiatives, including Lightning Network integration, may drive share price higher.

While the S&P 500 inclusion is positive, some analysts believe the upside is already factored into Block’s stock price. Consensus remains at “Moderate Buy” with a target of $68, indicating potential downside. Index inclusion validates Block’s role in digital finance but may not entirely drive stock price growth.

Read more at Yahoo Finance: Block Is Joining the S&P 500 Index. Should You Buy XYZ Stock Now?