Jefferies Boosts Price Target on BlackRock (BLK) to $182

Jefferies raised its price target on BlackRock (NYSE: BLK) from $175 to $182 but kepts its Hold rating.

The firm comments, "BLK reported adjusted 4Q11 EPS of $3.06, beating our estimate by $0.15 and consensus by $0.08. Upside was predominantly driven by performance fees as management fees were in line. The diversity of BLK's business led to strong overall net flows but these were mostly into index and ETF funds as active outflows accelerated q/q. Following these results, we are increasing our 2012 EPS estimate by $0.20 to $13.00"

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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