Nomura Securities Maintains a 'Buy' on BlackRock (BLK); 4Q Review
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Price: $1,173.73 -0.77%
Rating Summary:
20 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on BlackRock (NYSE: BLK) price target raised to $212.00.
Analyst, Glenn Schorr said, "BLK reported EPS of $3.06 (adj.) vs. our/Street $2.98/$2.97 estimates. Solid 4Q with a clean beat as revenues, earnings and AUM (+5% q/q to $3.5T) were a little higher than expected (and not fueled by outsized performance fees or investment gains). A 618K stock buyback boosted EPS (~+$0.01). Although revenues were down 11% y/y, expenses tracked closely (-12% y/y) to maintain the solid ~40% adj. margins. Long-term inflows of $23.8B were good, in our view (3.1% organic growth), given a tough backdrop (and will compare well to peers), and BLK’s pipeline, while down, is over two times this quarter’s inflows ($54.3B with 97% long term). We raise our PT to $212 (15x 2012 EPS) and tweaked our estimates higher, primarily on better organic growth and performance fees."
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 $187.54 yesterday.
Analyst, Glenn Schorr said, "BLK reported EPS of $3.06 (adj.) vs. our/Street $2.98/$2.97 estimates. Solid 4Q with a clean beat as revenues, earnings and AUM (+5% q/q to $3.5T) were a little higher than expected (and not fueled by outsized performance fees or investment gains). A 618K stock buyback boosted EPS (~+$0.01). Although revenues were down 11% y/y, expenses tracked closely (-12% y/y) to maintain the solid ~40% adj. margins. Long-term inflows of $23.8B were good, in our view (3.1% organic growth), given a tough backdrop (and will compare well to peers), and BLK’s pipeline, while down, is over two times this quarter’s inflows ($54.3B with 97% long term). We raise our PT to $212 (15x 2012 EPS) and tweaked our estimates higher, primarily on better organic growth and performance fees."
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 $187.54 yesterday.
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