BlackRock's Preqin Acquisition To Drive Revenue Synergies: Analyst Sees Expansion In Emerging Private Markets
Portfolio Pulse from Nabaparna Bhattacharya
BlackRock's acquisition of Preqin for $3.2 billion is expected to drive revenue synergies and expand its presence in emerging private markets. Goldman Sachs analyst Alexander Blostein reiterated a Buy rating on BlackRock with a price target of $929. The acquisition is funded with $3 billion in debt and $200 million in cash, and is expected to generate significant revenue growth for BlackRock.
July 02, 2024 | 5:58 pm
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BlackRock's acquisition of Preqin for $3.2 billion is expected to drive revenue synergies and expand its presence in emerging private markets. Goldman Sachs analyst Alexander Blostein reiterated a Buy rating on BlackRock with a price target of $929.
The acquisition of Preqin is expected to drive significant revenue synergies for BlackRock, expanding its presence in the emerging private markets data segment. The analyst's reiteration of a Buy rating and a high price target further supports a positive short-term impact on BlackRock's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100