Citi Has $210 Target On Blackrock

Citi Investment Research has a $210 price target and a Buy rating on BlackRock, Inc. BLK. In a note sent to investors Citi writes, "Affirm Buy & $210 12-mo. target post 12/8 webcast by Chairman & CEO – we like BLK into YE/early 2011, and the discussion reinforced that view. The presentation was favorable at the strategic level but incremental disclosure was encouraging around capital management, margins, and ST earnings outlook. Mr. Fink's comments reinforced our bullishness on global & alternative managers and our more cautious stance on US retail centric managers." Shares of BLK gained $2.31 yesterday to close at $173.70.