UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on BlackRock
In a report published Friday, Jefferies & Company reiterated its Hold rating on BlackRock (NYSE: BLK), and raised its price target from $215.00 to $230.00.
Jefferies noted, “Strong 4Q12 operating results helped margins climb above 40% for 2012, where they will likely remain in 2013. Organic growth was strong, led once again by ETFs. Mgmt reiterated its focus on capital return, increasing its repurchasing authority and the quarterly dividend. 4Q12 EPS of $3.96 beat our $3.85 Street-high estimate. Following these results, our 2013 EPS estimates increase by $0.43 to $15.81.”
BlackRock closed on Thursday at $232.00.
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