Wells Fargo maintains an “Overweight” rating for BlackRock Inc (NYSE:BLK), raising the price target from $1,070 to $1,090.
BlackRock’s assets under management (AUM) reached a record $11.5 trillion in the third quarter, a significant year-over-year increase.
The stock price of BLK experienced a 3.63% increase, reaching a high of $995.99, marking its highest price over the past year.
BlackRock Inc (NYSE:BLK) is a leading global investment management corporation, known for its extensive range of financial products and services. The company manages a diverse portfolio, including stocks, bonds, and private assets. BlackRock competes with other major asset managers like Vanguard and State Street. On October 13, 2024, Wells Fargo maintained its “Overweight” rating for BlackRock, with the stock priced at $990.26.
Wells Fargo’s decision to raise BlackRock’s price target from $1,070 to $1,090 reflects confidence in the company’s financial health. This optimism is supported by BlackRock’s recent performance, as highlighted by Investopedia. The stock reached an all-time high, driven by the firm’s impressive financial results that exceeded market expectations.
BlackRock’s assets under management (AUM) reached a record $11.5 trillion in the third quarter, marking a $2.4 billion increase year-over-year. This growth was fueled by $456 billion in net inflows and positive market movements. The company’s strategic acquisition of Global Infrastructure Partners will add $116 billion in private market assets to its portfolio.
The stock price of BLK experienced a 3.63% increase, with a price change of $34.67, reaching a high of $995.99. This marks its highest price over the past year, with the lowest being $596.18. BlackRock’s market capitalization stands at approximately $146.7 billion, with a trading volume of 795,052 shares.