BlackRock Gets Price Target Hikes By Analysts Following Strong Q1 Earnings

BlackRock, Inc. BLK reported better-than-expected Q1 earnings.

Adjusted EPS declined 17% Y/Y to $7.93, beating the consensus of $7.73. The company reported a Q1 revenue decline of 10% Y/Y to $4.24 billion, versus the consensus of $4.25 billion.

BlackRock shares gained 3.1% to close at $691.33 on Friday and added 0.4% in today’s pre-market trading session.

These analysts made changes to their price targets on BlackRock following earnings announcement.

• Credit Suisse boosted the price target on BlackRock from $662 to $673. Credit Suisse analyst Bill Katz maintained a Neutral rating.
• B of A Securities raised the price target on BlackRock from $868 to $920. B of A Securities analyst Craig Siegenthaler maintained a Buy rating.
• Morgan Stanley raised the price target on the stock from $829 to $861. Morgan Stanley analyst Mike Cyprys maintained BlackRock with an Overweight.
• Keefe, Bruyette & Woods raised the price target from $763 to $770. Keefe, Bruyette & Woods analyst Michael Brown maintained BlackRock with a Market Perform.

Now Read This: Chembio Diagnostics And 2 Other Stocks Under $1 Insiders Are Aggressively Buying