Nomura Reiterates Buy, Lifts PT on BlackRock (BLK) in Wake of Positive Q3
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Price: $285.33 -2.18%
Rating Summary:
9 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
9 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade BLK Now!
Following the release of BlackRock’s (NYSE: BLK) Q3 quarterly earnings report, Nomura Securities reiterated a Buy rating and raised its price target to $212.00 (from $201.00).
The beat was driven by better-than-expected base fees and net gains on investments, partially offset by higher-than-expected non-comp expense, noted a recent Nomura report.
"We continue to like the stock, as the BlackRock story remains intact with strong positioning & legit growth drivers, good expense control (40% adj. margins YTD), and steady capital return," said analyst Glenn Schorr.
Commenting on the earnings report, Schorr said "Plenty of moving parts as always, but earnings, AUM and flows are growing, expenses are well managed, there’s a 3.2% dividend yield and ongoing buybacks, and the stock is still attractive, in our view."
For an analyst ratings summary and ratings history on BlackRock click here. For more ratings news on BlackRock click here.
Shares of BlackRock closed at $189.13 yesterday, with a 52 week range of $146.53-$209.37.
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The beat was driven by better-than-expected base fees and net gains on investments, partially offset by higher-than-expected non-comp expense, noted a recent Nomura report.
"We continue to like the stock, as the BlackRock story remains intact with strong positioning & legit growth drivers, good expense control (40% adj. margins YTD), and steady capital return," said analyst Glenn Schorr.
Commenting on the earnings report, Schorr said "Plenty of moving parts as always, but earnings, AUM and flows are growing, expenses are well managed, there’s a 3.2% dividend yield and ongoing buybacks, and the stock is still attractive, in our view."
For an analyst ratings summary and ratings history on BlackRock click here. For more ratings news on BlackRock click here.
Shares of BlackRock closed at $189.13 yesterday, with a 52 week range of $146.53-$209.37.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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