TD Cowen upgrades BlackRock to 'buy' on strong earnings growth potential

BlackRock

Tue 13:14

** TD Cowen upgrades BlackRock BLK.N to "buy" from "hold" rating; raises PT to $1,405 from $1,212, representing a ~25% upside to stock's last close
** "After languishing for much of '26, we believe 3Q26 marks a powerful inflection that should result in superior absolute and relative outperformance," says brokerage
** Adds investment thesis is driven by improving visibility into 2030 targets, with its analysis suggesting co is tracking well ahead of revenue and operating income goals
** Highlights active ETFs, insurance, digital assets and wealth management as four key growth drivers, with each potentially generating about $500 mln in revenue, while improving trends across these businesses help offset recent pressure from market weakness and elevated retail outflows
** Co's shares marginally up in low vols in premarket trading 
** 19 of 20 brokerages rate the stock "buy" or higher, 1 "hold"; median PT is $1,313 - LSEG-compiled data
** As of last close, stock up 5.07% YTD

(Reporting by Kanishka Ajmera in Bengaluru)
((mail to: Kanishka.Ajmera@thomsonreuters.com))