Jefferies Reiterates Hold Rating, $195 PT for BlackRock

In a company update published earlier today, Jefferies & Company, Inc. reiterated its Hold rating and $195.00 price target for BlackRock, Inc. BLK. Jefferies said in its report “This morning Barclays announced it was selling its entire 19.6% stake (35.2M shares) in BLK through a secondary offering. As part of the sale, BLK will repurchase approx. $1.0B worth of shares, reducing shares outstanding by approx. 3%. The Barclays sale removes an overhang on BLK and permits the company to be more aggressive with share repurchases going forward as the public float increases.” BlackRock, Inc. closed on Friday at $171.91.