BLK To Be Added To S&P 500; Deutsche Bank Maintains Buy Rating

S&P announced that BlackRock, Inc. BLK will be added to the S&P 500 Index, replacing Genzyme Corp. after the market close on April 1st, Deutsche Bank reports. “While the addition was highly anticipated (particularly post the float crossing the 50% threshold in 4Q), the timing was uncertain, so we view the news as a positive, expect the stock to react favorably, and maintain our Buy,” Deutsche Bank writes. BlackRock closed Tuesday at $186.50.