Goldman Sachs raised the firm’s price target on BlackRock to $900 from $875 and keeps a Buy rating on the shares after its Q4 earnings beat. The company’s results also featured two strategic changes – a re-architecture of the business, with an emphasis on greater global integration, iShares and Private Market, and a $12.5B acquisition of GIP, a $100B AUM Infrastructure Manager, the analyst tells investors in a research note. The acquisition is consistent with BlackRock’s growth strategy, pivoting the firm further toward the faster growing areas in Private Markets, the firm added.
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