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BlackRock price target lowered to $1,100 from $1,200 at Citi

Citi analyst Christopher Allen lowered the firm’s price target on BlackRock (BLK) to $1,100 from $1,200 and keeps a Buy rating on the shares. The firm adjusted estimates post the Q1 report. BlackRock is well positioned in the present market environment, given its scaled exchange traded fund platform, “healthy” leverage to fixed income, and growing alternatives platform, the analyst tells investors in a research note.

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