Morgan Stanley analyst Michael Cyprys raised the firm’s price target on BlackRock (BLK) to $1,261 from $1,245 and keeps an Overweight rating on the shares. For the asset manager group, the firm raised Q4 EPS estimates by 0.7% on average, driven by higher asset under management levels given better markets and flows. The firm notes its forecasts are 5% above Q4 consensus estimates, but thinks it is likely consensus “has yet to mark to market” for the quarter.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
