Here’s What Morgan Stanley Thinks About BlackRock (BLK)

Morgan Stanley is actively recommending investors to buy traditional asset managers ahead of Q2 results as it views the setup as favorable. BlackRock, Inc. (NYSE:BLK) is one of the world’s largest asset managers and also one of our Top Large Cap Stocks to Invest In At 52-Week Lows.

​BlackRock, Inc. (NYSE:BLK) has declined roughly 8% over the past month, mainly due to macroeconomic volatility and shifting Federal Reserve rate expectations. However, Wall Street appears to be bullish as analysts’ 12-month average price target suggests more than 29% upside from the current level.

​Recently, on June 26, Morgan Stanley analyst Michael Cyprys raised the firm’s price target on the stock from $1,393 to $1,430, while maintaining an Overweight rating on the shares. The firm noted lifting its Q2 EPS forecasts by an average of 7.5% across traditional asset managers. The firm expects broad-based earnings beats driven by a supportive market environment and improving capital flows into the sector.​

Founded in 1988 and headquartered in New York City, BlackRock, Inc. (NYSE:BLK) provides global investment, advisory, and risk management solutions. It also manages digital asset portfolios and is the sponsor of the Bitcoin exchange-traded fund, iShares Bitcoin Trust ETF (IBIT), allowing investors to gain exposure to Bitcoin without managing the underlying crypto directly.

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