Evercore analyst Glenn Schorr maintains $Blackrock (BLK.US)$ with a buy rating, and adjusts the target price from $995 to $1,040.
According to TipRanks data, the analyst has a success rate of 68.2% and a total average return of 10.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Blackrock (BLK.US)$'s main analysts recently are as follows:
Following a notable third-quarter earnings surpass, there is observed accelerating momentum across BlackRock's operations with the achievement of its 5% organic base fee growth target within the quarter. Moreover, there's a robust pipeline of mandates, an expanding private markets business, and the potential for operating margin expansion. It is anticipated that these factors will contribute to a compound annual growth rate of approximately 15% in earnings per share for the years 2024-2026.
Following the company's Q3 report, it was observed that they reported a robust earnings beat, with performance fees and margins exceeding expectations.
BlackRock's third-quarter earnings surpassed expectations, bolstered by an uptick in organic base fee growth momentum, a strategic push into private markets, and enhanced margins. These factors are poised to contribute to further appreciation in the stock's value. Additionally, the company's collaboration with a prominent technology firm and an infrastructure investment company to invest in data centers and energy infrastructure is seen as unlocking a vast, multi-trillion dollar investment opportunity, leveraging private capital for long-term growth.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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