Wells Fargo lowered the firm’s price target on BlackRock (BLK) to $1,170 from $1,180 and keeps an Overweight rating on the shares. The firm cites a somewhat weak Q2 and noisy elements in forward guidance. However, Wells remains bullish on the strong positioning in total, but especially in higher fee areas, and views the pullback in the stock as an opportunity to accumulate shares.
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