BlackRock Inc

BLK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$663.00	Mxywz	Mjwqsxcm

BlackRock Earnings: Lower Taxes Salvage Operating Results Impacted by Weak Flows and Performance

Greggory Warren

Oct 13, 2023

While there was little in wide-moat-rated BlackRock's third-quarter earnings that would alter our long-term view of the firm, we expect to reduce our $730 per share fair value estimate slightly to reflect even weaker flows and market performance than we were forecasting for the period. Even with the downward revision, we view the shares as being only modestly undervalued right now.

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