(CercleFinance.com) – Jefferies reaffirms its ‘buy’ recommendation on BlackRock with a price target lowered from $649 to $627, in the wake of reduced EPS estimates for the last quarter of 2022 and for 2023, after the quarterly publication of last week.
“These changes reflect a lower level of exit assets and commission rate, as well as less favorable organic growth prospects,” explains the broker in its note on the asset and investment management juggernaut.
“However, BlackRock’s strategic positioning remains differentiated, driven by its global product line and attractive growth areas such as iShares, fixed income, multi-asset and alternatives,” he said.
Copyright © 2022 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
