After the 3/29 close, Standard & Poors announced that BlackRock, Inc. BLK will replace Genzyme Corp GENZ in the S&P 500 Index effective after the 4/1 close, Citi reports.
“We see the news as a material positive for BLK and reiterate our Buy rating and $240 12-month target,” Citi writes. “Reiterate BLK/EV pair trade.”
BlackRock closed Tuesday at $186.50.
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Posted In: Analyst RatingsAsset Management & Custody BanksBiotechnologyBlackrockCitiFinancialsHealth Care
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