In a report released today, Michael Cyprys from Morgan Stanley reiterated a Buy rating on BlackRock (BLK – Research Report), with a price target of $1,111.00.
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Michael Cyprys has given his Buy rating due to a combination of factors that highlight BlackRock’s potential for growth and profitability. The upcoming Investor Day is expected to provide greater clarity on BlackRock’s strategic roadmap and financial framework, which could enhance market confidence and support the stock’s performance.
Additionally, Cyprys anticipates that BlackRock’s management will likely raise their organic base fee growth target, emphasizing the potential for revenue to shift towards more sustainable streams. The company also has significant growth levers in its private asset management, with existing assets under management that can be reallocated to boost earnings per share. Furthermore, there is an expectation that BlackRock will outline a clear path to expanding its operating margin, even in stable market conditions, which could further bolster its financial outlook.
Cyprys covers the Financial sector, focusing on stocks such as Franklin Resources, LPL Financial, and Marketaxess Holdings. According to TipRanks, Cyprys has an average return of 4.4% and a 52.73% success rate on recommended stocks.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $1,105.00 price target.
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