BUZZ-J.P. Morgan raises PT on BlackRock following strong inflows
J.P. Morgan has raised its price target on BlackRockto $1,242 from $1,093 while maintaining a "neutral" rating. This adjustment comes ahead of Q3 results, reflecting increased estimates due to market appreciation and strong investor demand, particularly in passive products. However, demand for active equity and non-ETF index products is expected to remain weak. Currently, 16 of the 19 analysts covering BlackRock have a "buy" or higher rating, with a median price target of $1,205. Year-to-date, BlackRock shares have risen by 11.31%.
J.P. Morgan raises PT on asset manager BlackRock (BLK.N) to $1,242 from $1,093; retains “neutral” rating
Brokerage updates its model ahead of Q3 results, increases estimates following market appreciation and investor demand, especially in passive products
Also notes active equity and non-ETF index products likely continued to see weak demand
J.P Morgan notes Q3 included full quarter following HPS acquisition, closed on July 1
16 of the 19 analysts covering the stock have a “buy” or higher rating, and three “hold”; median PT is $1,205 - data compiled by LSEG
As of last close, BLK shares up 11.31% YTD
