BlackRock (BLK) PT Raised to $625 at Citi Following 4Q

Citi raised its price target on BlackRock (NYSE: BLK) to $625.00 (from $600.00) while maintaining a Buy rating following the company's 4Q earnings call. Analyst William Katz came off the 4Q call still bullish on the fundamental and strategic positioning and belief that BLK will offer one of the best updates as Citi works deeper into Traditionals earnings season.

BLK management guided to a 23% 2018 tax rate, Comp/Revenue ratio should improve again given cost migration, G&A is likely to be up from 2017 levels and margins should move higher as management balances reinvestment and profitability.

You May Also Be Interested In

• DraftKings Inc. (DKNG) PT Lowered to $48 at UBS on Updated Estimates Post Q2
• CrowdStrike (CRWD) PT Raised to $280 at Stephens
• UBS Reiterates Neutral Rating on Intuit (INTU), Says Investor Day Not 'Sentiment-Changing'