Nomura Securities Maintains a 'Buy' on BlackRock (BLK); Q1 Review: Higher on AUM Growth & Expense Discipline
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Price: $1,173.34 +1.07%
Rating Summary:
20 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 18 | Down: 16 | New: 9
Rating Summary:
20 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 18 | Down: 16 | New: 9
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Nomura Securities maintains a 'Buy' on BlackRock (NYSE: BLK) price target of $221.00.
Analyst, Glenn Schorr, said, "Decent 1Q12 results with clean beat were helped by better expenses (~+$0.20) and a little higher non-operating income, partly (~$0.06) offset by lower-than-expected fee revenues (~-$0.12). LT AUM rose 7% q/q, helped by strong markets and $26B of net new money (~3.2% organic growth) excluding the previously disclosed $36B redemption. The 140bp dip in the operating margin bothered some, but was mostly due to seasonality of performance fees and payroll taxes and remains at a very high ~39% range. We continue to like BLK, as we think it is well positioned with the right product and geographic mix, expanding distribution and generation of more than $3B in cash/year."
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 $196.01 yesterday.
Analyst, Glenn Schorr, said, "Decent 1Q12 results with clean beat were helped by better expenses (~+$0.20) and a little higher non-operating income, partly (~$0.06) offset by lower-than-expected fee revenues (~-$0.12). LT AUM rose 7% q/q, helped by strong markets and $26B of net new money (~3.2% organic growth) excluding the previously disclosed $36B redemption. The 140bp dip in the operating margin bothered some, but was mostly due to seasonality of performance fees and payroll taxes and remains at a very high ~39% range. We continue to like BLK, as we think it is well positioned with the right product and geographic mix, expanding distribution and generation of more than $3B in cash/year."
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 $196.01 yesterday.
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