BlackRock Price Target Increased to $305.00 by Analysts at UBS AG (BLK)
Research analysts at UBS AG boosted their price objective on shares of BlackRock (NYSE:BLK) from $280.00 to $305.00 in a report released on Thursday, AnalystRatings.NET reports. The firm currently has a “neutral” rating on the stock. UBS AG’s target price would suggest a potential upside of 5.00% from the stock’s previous close.
BlackRock (NYSE:BLK) traded up 2.23% during mid-day trading on Thursday, hitting $296.95. 466,809 shares of the company’s stock traded hands. BlackRock has a 1-year low of $185.20 and a 1-year high of $298.14. The stock has a 50-day moving average of $270.4 and a 200-day moving average of $270.1. The company has a market cap of $50.566 billion and a price-to-earnings ratio of 18.86.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $3.88 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.84 by $0.04. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the company posted $3.47 earnings per share. BlackRock’s revenue was up 6.6% compared to the same quarter last year. On average, analysts predict that BlackRock will post $16.00 earnings per share for the current fiscal year.
A number of other firms have also recently commented on BLK. Analysts at Susquehanna reiterated a “neutral” rating on shares of BlackRock in a research note to investors on Wednesday, October 9th. They now have a $279.00 price target on the stock, up previously from $270.00. Separately, analysts at ISI Group initiated coverage on shares of BlackRock in a research note to investors on Tuesday, October 8th. They set a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of BlackRock in a research note to investors on Wednesday, August 21st. They now have a $280.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. BlackRock has an average rating of “Hold” and a consensus target price of $282.62.
BlackRock, Inc (NYSE:BLK) is an investment management firm.
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