Deutsche Bank lowered its price target on BlackRock (NYSE: BLK) to $441.00 (from $449.00) while maintaining a Buy rating. BLK’s 1Q17 adjusted EPS was $5.25 compared to $4.90 Consensus.

BLK shares were down 2% today as investors remain skeptical that strong organic growth in passive products can generate peer-leading EPS growth, but Deutsche Bank disagrees.