Blackrock Inc Gets a Buy Rating from Credit Suisse

By Carrie Williams

Credit Suisse analyst Craig Siegenthaler maintained a Buy rating on Blackrock Inc (NYSE: BLK) yesterday and set a price target of $743. The company’s shares closed yesterday at $499.04.

According to TipRanks.com, Siegenthaler is a 4-star analyst with an average return of 7.9% and a 64.1% success rate. Siegenthaler covers the Financial sector, focusing on stocks such as Raymond James Financial, WisdomTree Investments, and Affiliated Managers.

Blackrock Inc has an analyst consensus of Moderate Buy, with a price target consensus of $628.60, which is a 26.0% upside from current levels. In a report issued on June 18, Citigroup also upgraded the stock to Buy with a $610 price target.

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Blackrock Inc’s market cap is currently $80B and has a P/E ratio of 15.72. The company has a Price to Book ratio of 2.50.

Based on the recent corporate insider activity of 134 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

BlackRock, Inc. engages in the provision of investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments.