Credit Suisse Remains a Buy on Blackrock Inc (BLK)

By Austin Angelo

Credit Suisse analyst Craig Siegenthaler maintained a Buy rating on Blackrock Inc (NYSE: BLK) yesterday and set a price target of $665. The company’s shares closed yesterday at $476.06.

According to, Siegenthaler is a 4-star analyst with an average return of 6.8% and a 59.9% success rate. Siegenthaler covers the Financial sector, focusing on stocks such as Janus Henderson Group plc, Raymond James Financial, and Affiliated Managers.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Blackrock Inc with a $589.60 average price target.

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Based on Blackrock Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.61 billion and net profit of $1.07 billion. In comparison, last year the company earned revenue of $3 billion and had a net profit of $857 million.

Based on the recent corporate insider activity of 133 insiders, corporate insider sentiment is neutral on the stock. Most recently, in July 2018, Laurence Fink, the Chairman & CEO of BLK sold 19,800 shares for a total of $10,051,763.

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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.