UBS Maintains a 'Buy' on BlackRock (BLK); ETF Commentary Intriguing

UBS maintains a 'Buy' on BlackRock (NYSE: BLK) price target of $210.00.

Analyst, Alex Kramm, commenting on BLK's Q2 report, said it was a challenging quarter, but there are reasons for optimism. Kramm also found the ETF commentary intriguing.

From BLK's press release regarding iShares (ETF): iShares generated $6.1 billion of net inflows, which were more than offset by market valuation declines of $32.8 billion, ending the quarter with $644.9 billion of AUM. Fixed income net inflows of $11.7 billion were partially offset by outflows of $5.4 billion and $0.2 billion from equity and alternatives commodity funds, respectively.

U.S. iShares generated over $8.9 billion of net inflows into fixed income funds, led by demand for yield-oriented products. Strong fixed income flows were muted by a retreat from equity funds, particularly from emerging markets products as investors de-risked in the face of market volatility.

International iShares similarly showed signs of shifting investor preferences with strong fixed income inflows of $2.8 billion and modest equity inflows of $0.2 billion.

iShares AUM represented 20% of total long-term AUM at quarter end and generated $596 million of revenue, or 31%, of total long-term base 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 $175.05 yesterday.

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