These Analysts Raise Their Forecasts On BlackRock Following Upbeat Q2 Earnings

BlackRock Inc. (NYSE:BLK) on Wednesday reported second-quarter results that beat Wall Street expectations.

Second-quarter revenue increased 31% year over year to $7.08 billion, topping the analyst consensus estimate of $6.70 billion. Adjusted earnings came in at $13.91 per share, ahead of the consensus estimate of $12.60.

Chief Executive Officer Laurence Fink said strong market conditions, improving profitability and advances in technology continued to drive growth.

BlackRock shares rose 0.8% to $1,102.59 in pre-market trading.

These analysts made changes to their price targets on BlackRock following earnings announcement.

• JP Morgan analyst Kenneth Worthington upgraded the stock from Neutral to Overweight and raised the price target from $1,165 to $1,364.
• Barclays analyst Benjamin Budish maintained the stock with an Overweight rating and raised the price target from $1,340 to $1,450.
• B of A Securities analyst Craig Siegenthaler maintained the stock with a Buy and raised the price target from $1,298 to $1,320.
• Keefe, Bruyette & Woods analyst Alex Bond maintained BlackRock with an Outperform rating and boosted the price target from $1,275 to $1,300.

Considering buying BLK stock? Here’s what analysts think:

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