Morgan Stanley Initiates Coverage on BlackRock Following its Q2 2014 Earnings

In a report released Thursday, Morgan Stanley analyst Betsy L Graseck reiterated coverage on BlackRock, Inc.

Overweight rating and raises its price target to $391.00 a share.BlackRock's earnings increased to $4.89 per share versus $4.15 per share.

Analyst at Morgan Stanley were pleased with Blackrock's strong results in its non-ETF based products holding up the revenue. Graseck expects ETF strong tailwind to come from RDR and high volume performance. Black rock announce a 5 percent target for its ETF segment, Morgan Stanley expects Blackrocks PE expansion if the target goal is meet. Morgan stanley expects Blackrocks EPS and marginal growth to be above its peers giving it potential for being worth a premium in the future. Blackrock is currently one of the industry leaders in multi-asset, ETF platform, retirement funds, and DCIO.