Wells Fargo has adjusted its price target for BlackRock (BLK, Financial) downward to $1,035 from a previous $1,065. The revision comes amidst lower market projections; however, the firm continues to endorse an Overweight rating for the asset management giant.
Despite the adjustment, Wells Fargo acknowledges BlackRock's robust Q1 performance, underpinned by its diversified and resilient business model. The firm's consistent guidance amid ongoing market fluctuations has been reassuring for investors, affirming BlackRock’s position as a strong option in uncertain times.
Wells Fargo maintains a bullish stance on BlackRock, describing the company as a "rock" and suggesting it provides relative stability in the current market environment.
