UPDATE: Stifel Nicolaus Reiterates Buy Rating, Raises PT on BlackRock Following Additional Analysis

In a report published Thursday, Stifel Nicolaus analyst J. Jeffrey Hopson reiterated a Buy rating on BlackRock BLK, and raised the price target from $265.00 to $286.00. In the report, Stifel Nicolaus noted, “After some additional thought and analysis, we are raising our target price to $286 from $265. This increase reflects the advancement of one quarter in our valuation model and slightly higher forward earnings, as communicated in our post-meeting note published yesterday (lower near-term EPS due to ETF outflows in May/June, but higher intermediate EPS due to market gains in Q2 to date and the related benefit to margins).” BlackRock closed on Wednesday at $268.46.