Standpoint Research Upgrades BlackRock (BLK) to Buy; Tide Turning After Recent Underperformance

Standpoint Research upgraded BlackRock (NYSE: BLK) from Hold to Buy with a price target of $210.00.

Analyst, Ronnie Moas, said, "Blackrock shares have underperformed the S&P-500 by 1000 bps and underperformed the XLF by 1500 bps since our downgrade in late December...We would reinstate the recommendation at this time with a 2013 price target of $210. The shares have dropped $28 in the last month and we expect the stock to recover that loss in the next 12-18 months (or sooner)...In this upgrade I am disregarding the fact that BLK looks like it will test the 200-day moving average of $175 and possibly go through there."

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 $183.16 yesterday.

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