Citi Reiterates Buy Rating, $240 PT On BLK

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.