Normura Securities Reaffirms “Buy” Rating on BlackRock; Raises Price Target (BLK)
Nomura Securities has reiterated their "Buy" rating, and raised their price target for independent investment management firm, BlackRock, Inc.( BLK ) Thursday.
The firm has reaffirmed a "Buy" rating on BLK and increased its price target from $201 to $212. This price target suggests a 10% increase from the stock's current price of $190.18, and an 6.18% increase from the stock's YTD price of $178.24.
The increased price target is a result of higher base fees and net gains on investments, which have been offset by increased non-comp expenses.
BlackRock shares were up 97 cents, or 0.51% on Thursday afternoon.
The Bottom Line
Shares of Blackrock ( BLK ) have a 3.17% dividend yield, based on last night's closing stock price of $189.13. The stock has technical support in the $176-$180 price area. If the shares can firm up, we see overhead resistance around the $193-$199 price levels.
BlackRock, Inc.( BLK )is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.