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In a report published Thursday, Morgan Stanley analyst Betsy L. Graseck reiterated an Overweight rating on
BlackRockBLK, and raised the price target from $387.00 to $391.00.
In the report, Morgan Stanley noted, “Though we slightly lower our flows overall post-2Q, we see better organic growth trends emerging in active & iShares, higher fee products than the non-ETF index products that drove BLK's 2Q flow miss. With a strong ETF tailwind likely to come from RDR & strong active performance, we expect this trend to continue & believe BLK could see near-term P/E expansion if it can approach mgmt's 5% flow target. We remain Overweight & raise our price target 1% to $391 (20% upside).”
BlackRock closed on Wednesday at $325.17.
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