BlackRock price target raised to $920 from $868 at BofA

BofA analyst Craig Siegenthaler raised the firm’s price target on BlackRock to $920 from $868 and keeps a Buy rating on the shares. The firm raised its Q2, 2024 and 2025 EPS estimates due to the AuM and earnings beat, stronger Q2 beta and higher operating margin and non-op income. The firm also raise our organic growth estimate for 2023/24 given higher conviction behind its rebalancings thesis and money market inflows following the company’s Q1 report.