Wells Fargo lowered the firm’s price target on BlackRock (BLK) to $1,035 from $1,065 on lower market assumptions, while keeping an Overweight rating on the shares following a good Q1 from the diversification and strength of the company’s business model. Commentary remained upbeat and BlackRock reiterated its guidance, a relief given market turmoil, the firm says. Wells remains bullish on Overweight-rated BlackRock and sees this “rock” as a relative haven.
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