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TD Cowen raised its price target on BlackRock (NYSE:BLK) to $1,154.00 from $1,063.00 on Thursday, while maintaining a Buy rating on the asset management firm’s stock. According to InvestingPro data, BlackRock, with its $151.55 billion market capitalization, is currently trading above its Fair Value.
The research firm cited an increasingly bullish long-term outlook following BlackRock’s investor day held on June 12. TD Cowen suggested that BlackRock’s 2030 key performance indicators are likely conservative, reinforcing the firm’s preference for scaled alternative investment managers. The company has demonstrated strong performance with 14.23% revenue growth over the last twelve months.
TD Cowen revised its earnings per share estimates for BlackRock upward for 2025-2026, reflecting quarter-to-date mark-to-market updates and approximately $7 billion higher HPS-related fee-paying assets under management, totaling $117 billion versus approximately $110 billion at the time of the deal announcement.
The updated earnings estimates from TD Cowen now stand approximately 5% ahead of consensus, which the firm attributed to likely timing-related factors. The price target increase represents a multiple of 23 times the revised 2026 earnings estimate, up from the previous 22 times multiple.
BlackRock, the world’s largest asset manager, continues to expand its alternative investments business, with TD Cowen noting that the investor day presentation reinforced its view on the company’s growth trajectory in this segment. InvestingPro analysis shows the company maintains a strong dividend track record, having raised dividends for 15 consecutive years, with a current yield of 2.11%. Get access to more detailed insights and 8 additional ProTips with an InvestingPro subscription.
In other recent news, BlackRock reported significant developments that are of interest to investors. The company announced a quarterly cash dividend of $5.21 per share, scheduled for payment on June 23, 2025, to shareholders on record as of June 5, 2025. This dividend announcement underscores BlackRock’s ongoing commitment to returning value to its shareholders. Additionally, BlackRock’s Investor Day highlighted expectations for substantial growth in private markets and technology/data segments, projected to account for about 30% of revenues by 2030. Keefe, Bruyette & Woods maintained its Outperform rating for BlackRock, citing the firm’s growth prospects and strategic direction. Furthermore, BlackRock introduced its Asimov AI platform, designed to enhance investment processes by providing continuous portfolio insights. In regulatory news, Jio BlackRock Investment Advisers, a joint venture with Reliance Industries (NSE:RELI), received approval to operate as an investment advisor in India. Lastly, at the Annual Meeting of Shareholders, all director nominees were elected, and executive compensation was approved, reflecting shareholder support for the company’s governance.
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