BlackRock hits record high after brokerages raise PT on growth prospects
** Shares of world's largest asset manager BlackRock BLK.N rise as much as 1.1% in early trading, hitting a record high
** Stock briefly breached the $1,000 mark, last up 0.9% at $999.21
** At least four brokerages raise their price target on BLK
** Morgan Stanley lifts PT to Street high of $1,245 from $1,150, a 25.7% upside to stock's last close
** Brokerage sees accelerating momentum across BLK's business with a strong pipeline of mandates and expanding private markets business
** Large piles of cash on the sidelines are starting to move into risk assets - Morgan Stanley
** BLK on Friday reported quarterly record net flows of $221 bln and hit a record high assets under management for the third straight quarter
** As of last close, BLK shares up 22% YTD
Brokerage | New PT | Old PT |
Morgan Stanley | $1,245 | $1,150 |
KBW | $1,125 | $1,075 |
Deutsche Bank | $1,105 | $1,065 |
Barclays | $1,120 | $1,010 |
Reporting by Arasu Kannagi Basil in Bengaluru
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