BlackRock Receives Overweight Rating from JPMorgan Chase & Co. (BLK)
BlackRock (NYSE:BLK)‘s stock had its “overweight” rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a research report issued on Tuesday. They currently have a $366.50 target price on the stock, up from their previous target price of $354.00. JPMorgan Chase & Co.’s price target would indicate a potential upside of 14.67% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of BlackRock in a research note on Wednesday, June 18th. They now have a $358.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of BlackRock in a research note on Wednesday, June 18th. They now have a $340.00 price target on the stock, up previously from $315.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of BlackRock in a research note on Monday, May 19th. They now have a $312.00 price target on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. BlackRock currently has an average rating of “Buy” and an average target price of $343.06.
BlackRock (NYSE:BLK) traded up 1.52% on Tuesday, hitting $324.46. 274,636 shares of the company’s stock traded hands. BlackRock has a 52-week low of $253.00 and a 52-week high of $326.00. The stock has a 50-day moving average of $308.7 and a 200-day moving average of $306.4. The company has a market cap of $54.879 billion and a P/E ratio of 18.10.
BlackRock (NYSE:BLK) last announced its earnings data on Thursday, April 17th. The company reported $4.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $4.15 by $0.28. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the company posted $3.65 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts predict that BlackRock will post $18.51 earnings per share for the current fiscal year.
BlackRock, Inc (NYSE:BLK) is an investment management firm.
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