Jefferies Starts BlackRock (BLK) at Hold

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Jefferies initiates coverage on BlackRock (NYSE: BLK) with a Hold and $177 price target.

The firm states, "BLK's scale, diverse asset base, and strong cash flow generation provide solid downside protection. However, organic growth for BLK has and continues to be volatile. With few catalysts in the short term, we view the shares as fairly valued at 12.5x our 2012 estimate."

For more ratings news on BlackRock click here and for the rating history of BlackRock click here.

Shares of BlackRock closed at $158.64 yesterday, with a 52 week range of $139.16-$209.77.

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