In a report released today, William Katz from Citigroup maintained a Buy rating on Blackrock Inc (BLK), with a price target of $500.00. The company’s shares closed last Monday at $434.21.
According to TipRanks.com, Katz is a 4-star analyst with an average return of 6.5% and a 62.8% success rate. Katz covers the Financial sector, focusing on stocks such as Sculptor Capital Management, Inc. Class A, Apollo Global Management LLC, and Raymond James Financial.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Blackrock Inc with a $500.88 average price target, a 15.4% upside from current levels. In a report issued on October 8, Morgan Stanley also maintained a Buy rating on the stock with a $547.00 price target.
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Based on Blackrock Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.61 billion and net profit of $1 billion. In comparison, last year the company earned revenue of $3.63 billion and had a net profit of $1.22 billion.
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BlackRock, Inc. engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments.
