Wells Fargo Initiates Coverage of BlackRock at Overweight
Fintel reports that on October 2, 2026, Wells Fargo initiated coverage of BlackRock (NYSE:BLK) (BIT:1BLK) with a Overweight recommendation.
BlackRock, Inc., headquartered in the United States, is a premier global asset management firm and a major player in the financial services industry. As the world's largest asset manager, BlackWarrior oversees trillions in assets, including a significant amount of assets under management across a wide array of public and private investment vehicles. Key initiatives and projects for BlackRock include expanding its sustainable investment offerings, leveraging advanced technology like Aladdin in investment management processes, and innovating in areas such as digital asset investment and infrastructure. The company’s strategic focus is centered around providing diversified investment solutions that cater to a broad demographic, ranging from individual investors to large institutions. Through these approaches, BlackRock aims to maintain its dominant presence in the global financial market while adapting to the evolving financial landscape.
Prior to the rating action, the stock recorded a pre-action close of $1,064.36 on October 1, 2026. The latest close was also $1,064.36 on October 1, 2026. The stock experienced a price change of -0.85% over one week, relative to a baseline close of $1,073.45 on September 24, 2026. Over a one-month period, the price change was -5.65% from a baseline close of $1,128.10 on September 1, 2026.
As of September 15, 2026, the current consensus target mean for the stock is $1,320.92, with a median target of $1,326.00, representing an implied change of +24.10%. The prior consensus target mean was $1,320.61 as of August 28, 2026, reflecting a consensus target revision of +0.02%.
In its latest earnings report on July 15, 2026, BlackRock reported an actual EPS of 13.91, compared to the estimate of 12.7175, representing an EPS surprise of +9.38%. Actual revenue reached $7,084,000,000.00, exceeding the estimated revenue of $6,783,080,088.00. The company's upcoming earnings date is scheduled for October 14, 2026.
The aggregate analyst sentiment for the current recommendation period of September 1, 2026, shows 4 strong buy, 16 buy, and 3 hold recommendations, totaling 23 recommendations. This results in a positive recommendation percentage of 87.0% and a hold percentage of 13.0%. Other recent analyst actions include Morgan Stanley maintaining an Overweight rating on September 25, 2026, and Evercore ISI Group maintaining an Outperform rating on September 9, 2026.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| October 2, 2026 | Wells Fargo | Overweight | initiated coverage | |
| September 25, 2026 | Morgan Stanley | Overweight | Overweight | maintained |
| September 9, 2026 | Evercore ISI Group | Outperform | Outperform | maintained |
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This story originally appeared on Fintel.