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UPDATE: Goldman Sachs Reiterates Buy Rating, Raises PT on BlackRock

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In a report published Friday, Goldman Sachs Group reiterated its Buy rating on BlackRock (NYSE: BLK), and raised its price target from $250.00 to $260.00.

Goldman Sachs noted, “4Q results, at least for now, appease the ‘too big to grow' critics and those concerned about operating margin potential and capital priorities. BLK faces two issues now: (1) was 4Q simply ‘seasonality' or was it a cyclical ‘sea change' in flow trends and operating performance and (2) is there enough upside from here? In our view, the firm's business model is capitalizing on secular changes in demand that amid market volatility were difficult to see but are now more reliable drivers of flows, margins, and upward earnings estimates revisions. Further, capital return actions (dividend upped +12% and share buyback authorization +7.5 mn shares) and a still palatable multiple versus peers keep us at Buy.”

BlackRock closed on Thursday at $232.00.

Latest Ratings for BLK

DateFirmActionFromTo
Sep 2014Deutsche BankMaintainsBuy
Jul 2014Deutsche BankMaintainsBuy
Jul 2014JP MorganMaintainsOverweight

View More Analyst Ratings for BLK
View the Latest Analyst Ratings

Posted-In: Goldman Sachs GroupAnalyst Color Price Target Analyst Ratings

 

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