HS has upgraded the payments technology company, Block, to buy from hold and has raised its price target to $77 from $70, indicating an upside of 19%. The bank's move comes after the company announced it was laying off over 4,000 employees from its workforce of over 10,000. Analysts believe the layoffs are not a sign of weakness, but a year of healthy financial and operating performance. They also noted that the company's growth in gross profit growth, ample operating margin expansion, and a significant de-rating of the stock has led to an attractive risk-reward profile.