BlackRock, Inc. (NYSE:BLK) is one of the stocks Jim Cramer shared insights on. When a caller inquired about the company, Cramer replied:
“Alright, BlackRock is up in a straight line… as we know. It got hit. It shouldn’t have gotten hit as aggressively as it did. It only sells at 23 times earnings. I say only because it has tremendous growth and there’s very little risk. So I think it’s a buy. It’s come back. It was just last week it got to 1,130. It’s 1,117. It is [buy, buy, buy].”
Photo by Joshua Mayo on Unsplash
BlackRock is a global investment management firm that provides financial services, including asset management, risk advisory, and investment strategies across equities, fixed income, real estate, and alternatives. During the July 11 episode, Cramer called it possibly the “most exciting story,” as he commented:
“Yet, you know what the most exciting story might be? I think it might be BlackRock. Yes, the stock that caught fire recently, even after many investors had lost faith in it. That never made sense to me. BlackRock’s the largest asset repository in the world and has a new infrastructure component that I sure wish I could get a piece of, but it’s only for 401Ks. I bet CEO Larry Fink will tell a very positive story, more than justifying the stock’s recent breakout.”
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This article is originally published at Insider Monkey.