In This Article:
Morgan Stanley analyst Michael Cyprys raised the firm’s price target on BlackRock to $1,245 from $1,150 and keeps an Overweight rating on the shares. Following a “significant” Q3 earnings beat, the firm sees accelerating momentum across BlackRock’s business with its 5% organic base fee growth target achieved in the quarter as well as a “strong pipeline of mandates, expanding private markets business, and scope for operating margin expansion.” The firm sees support for a 15% EPS compound annual growth rate from 2024-26, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BLK: