BlackRock Inc
BLK: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$239.00 | Vlq | Vfgrpvcb |
BlackRock: Recovering Equity and Credit Markets Lead to 17% Increase in Our Fair Value Estimate
We've increased our fair value estimate for wide-moat-rated BlackRock to $830 per share from $710 to account for revised near-term expectations for assets under management, revenue, and profitability since our last update. With the US equity markets rising 12% in the fourth quarter of 2023 and the credit markets rising 7%, BlackRock reported a 10% increase in AUM during the period. This left the firm in a better position than we had expected coming into 2024, allowing us to raise our fair value estimate by 17%.