JPMorgan raised the firm’s price target on BlackRock to $742 from $734 and keeps a Neutral rating on the shares. The analyst believes a surge in fixed income flows funded by cash on the sidelines seems unlikely. There is an industry-wide expectation for a surge in fixed income flows funded by cash due to a potential normalizing interest rate environment, the analyst tells investors in a research note. However, JPMorgan does not believe in a pending surge in cash funded net fixed income flows.
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