How BlackRock Is Positioned To Benefit From High-Interest Rate Environment And Outsourcing Shift: Analyst
Portfolio Pulse from Lekha Gupta
Keefe, Bruyette & Woods analyst Michael Brown has upgraded BlackRock Inc (NYSE:BLK) to Outperform from Market Perform, raising the price target from $770 to $835. Brown is bullish on BLK's organic growth and profitability, and believes the high-interest rate environment and the shift to outsourcing will benefit the company. He also sees opportunities for international expansion and enhancement of the private asset platform.
July 10, 2023 | 7:07 pm
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BlackRock Inc's stock has been upgraded to Outperform from Market Perform by Keefe, Bruyette & Woods analyst Michael Brown, with a raised price target of $835. The high-interest rate environment and the shift to outsourcing are expected to benefit the company.
The upgrade by the analyst from Keefe, Bruyette & Woods, along with the raised price target, indicates a positive outlook for BlackRock Inc. The high-interest rate environment is expected to benefit the company due to the impending surge of fixed-income inflows. Additionally, the shift to outsourcing, where BlackRock has strong capabilities, is also seen as a positive factor. These factors are likely to have a positive impact on the company's stock price in the short term.
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IMPORTANCE 80
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