UBS analyst Brennan Hawken raised the firm’s price target on BlackRock (BLK) to $1,045 from $1,017 and keeps a Neutral rating on the shares. The firm says that heading into the print, investors were fairly mixed on BlackRock, but after reporting a broad-based beat on net flows, fee rate, and op. margin, there was little debate around the overall strength of the print. Results also reinforced the growth profile of BlackRock’s legacy businesses, which had been a concern of bearish investors, UBS adds.
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