BlackRock price target lowered to $1,290 from $1,350 at Barclays

Barclays analyst Benjamin Budish lowered the firm’s price target on BlackRock (BLK) to $1,290 from $1,350 and keeps an Overweight rating on the shares. The firm adjusted targets in the brokers, asset managers and exchanges group as part of a Q1 earnings preview. The analyst reduced realizations estimates again and expects messaging “to be a bit less constructive” this quarter. Barclays finds shares of the alternative asset managers attractive and thinks Q1 “could be a bit of a clearing event.”