Barclays has increased its price target for BlackRock (BLK, Financial) to $990, up from the previous target of $950. This decision comes in the wake of BlackRock's first-quarter earnings report, which exceeded expectations, partly due to a more favorable tax rate.
The financial services firm continues to maintain an Overweight rating on BlackRock's shares. The standout aspect of the report was the company's organic base fee growth, which surpassed its cycle guidance, contributing to the positive assessment.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 15 analysts, the average target price for BlackRock Inc (BLK, Financial) is $1,039.36 with a high estimate of $1,124.00 and a low estimate of $890.00. The average target implies an upside of 18.27% from the current price of $878.78. More detailed estimate data can be found on the BlackRock Inc (BLK) Forecast page.
Based on the consensus recommendation from 18 brokerage firms, BlackRock Inc's (BLK, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for BlackRock Inc (BLK, Financial) in one year is $931.40, suggesting a upside of 5.99% from the current price of $878.78. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the BlackRock Inc (BLK) Summary page.
