BlackRock price target lowered to $542 from $583 at BMO Capital

BMO Capital analyst James Fotheringham lowered the firm’s price target on BlackRock to $542 from $583 and keeps a Market Perform rating on the shares after its Q1 results. The company’s long-term organic growth decelerated, and its organic base fee growth has leveled-off, and while BlackRock should remain a share-gainer, there is better value and growth potential among alternative asset managers, the analyst tells investors in a research note.