UBS raised the firm’s price target on BlackRock to $850 from $818 and keeps a Neutral rating on the shares. UBS expects long-term flows to improve quarter over quarter, driven by seasonally strong multi-asset flows and currency ETFs, partially offset by some easing in equity and fixed income iShares, but remains cautious regarding fee rate pressure, active fixed income flows and tech services growth, the analyst tells investors in a research note.
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