Greenway December 15 | J.P. Morgan downgraded BlackRock's rating from “overweight” to “neutral,” maintaining the target price of $708. The bank said it is “gradually cautious” about the slowdown in organic growth, adding that BlackRock is losing market share in the stock ETF business. The bank believes that the future of the iShares US stock ETF will face greater challenges, and that iShares's market share will be taken away by passive and active ETF management companies. J.P. Morgan said that its downgraded rating reflects the stock's excess earnings, as well as some potential downsides that investors have not fully considered.
摩根大通：下调贝莱德评级至“中性” 目标价708美元
J.P. Morgan downgraded BlackRock's rating to “neutral” target price of $708
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