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BlackRock Upgraded to “Buy” at Goldman Sachs (BLK)

Investment manager BlackRock, Inc. ( BLK ) on Wednesday caught a big upgrade from analysts at Goldman Sachs.

The firm said it boosted its rating on BLK from "Neutral" to "Buy" with a $240 price target. That target suggests a 17% upside to the stock's Tuesday closing price of $205.56.

A Goldman analyst commented, "In our view, BLK's flows are poised to accelerate, strong FCF and capital generation implies further stock buybacks of insider holders, and current valuation undervalues the secular attraction of BLK's well-diversified AuM base."

BlackRock shares rose $2.43, or +1.2%, in premarket trading Wednesday.

The Bottom Line

Shares of Blackrock ( BLK ) have a 2.68% dividend yield, based on last night's closing stock price of $205.56. The stock has technical support in the $190 price area. If the shares can firm up, we see overhead resistance around the $210-$211 price levels.

BlackRock, Inc. ( BLK ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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