Analysts Are Cutting Price Targets of These 5 Stocks

04. BlackRock, Inc. (NYSE:BLK)

Number of Hedge Fund Holders: 58

BlackRock, Inc. (NYSE:BLK) is an investment manager that caters to a wide range of clients, including institutional, intermediary, and individual investors such as insurance companies, pension plans for corporations, unions and public sectors, endowments, governments, charities, mutual funds, corporations, banks, sovereign wealth funds, official institutions, and public institutions. In addition to investment management, BlackRock, Inc. (NYSE:BLK) offers advisory services and global risk management solutions. On July 3, JPMorgan lowered its price target on BlackRock, Inc. (NYSE:BLK) from $780 to $770. Despite the adjustment, JPMorgan maintains an Overweight rating on the stock.

The London Company Large Cap Strategy made the following comment about BlackRock, Inc. (NYSE:BLK) in its first quarter 2023 investor letter:

“BlackRock, Inc. (NYSE:BLK)- BLK underperformed in Q1, but our conviction in BLK remains high based on the durability of its competitive position, an under-levered balance sheet, persistently strong profitability, and capital return. BLK has experienced some margin pressure on market-driven AUM declines, but has responded with cost control measures. We continue to view BLK as a well-run company that is likely to outperform the industry over the long term.”