BlackRock Rating Increased to Buy at Goldman Sachs (BLK)
BlackRock (NYSE: BLK) was upgraded by equities research analysts at Goldman Sachs (NYSE: GS) from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $200.00 price target on the stock.
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee reiterated a “neutral” rating on shares of BlackRock in a research note to investors on Friday, May 25th. They now have a $200.00 price target on the stock. Separately, analysts at Citigroup (NYSE: C) cut their price target on shares of BlackRock from $201.00 to $180.00 in a research note to investors on Wednesday, May 23rd. They now have a “neutral” rating on the stock. Finally, analysts at Morgan Stanley (NYSE: MS) upgraded shares of BlackRock to an “overweight” rating in a research note to investors on Wednesday, May 23rd.
BlackRock traded down 1.54% on Friday, hitting $164.00. BlackRock has a 52-week low of $137.00 and a 52-week high of $209.37. The company has a market cap of $29.423 billion and a price-to-earnings ratio of 13.19.
BlackRock last posted its quarterly earnings results on Wednesday, April 18th. The company reported $3.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.02 by $0.14. BlackRock’s revenue was down 1.4% compared to the same quarter last year. Analysts expect that BlackRock will post $3.33 EPS next quarter.
BlackRock, Inc. (BlackRock) is an independent investment management firm. The Company provides a range of investment and risk management services.