BlackRock price target raised to $1,220 from $990 at Barclays

Barclays analyst Benjamin Budish raised the firm’s price target on BlackRock (BLK) to $1,220 from $990 and keeps an Overweight rating on the shares. Heading into the Q2 reports for the brokers, asset managers and exchanges, the firm says trading activity was “generally robust” through the quarter. The Federal funds rate remains supportive for net interest income through the rest of the year, the analyst tells investors in a research note. Barclays sees the trading environment as “fairly robust.”