Freedom Broker raises BlackRock stock price target on strong earnings

Freedom Broker analyst Mikhail Paramonov has increased BlackRock's (NYSE:BLK) price target to $1,400 from $1,350, while keeping a Buy rating. The asset management giant reported robust third-quarter 2026 results, surpassing market expectations in revenue, earnings per share (EPS), and net inflows. Adjusted EPS reached $15.93, marking a 38% year-over-year increase and a 15% quarter-over-quarter surge, surpassing analyst consensus.

Currently trading at $1,170.87, BlackRock's shares are close to their 52-week high of $1,187.17, indicating strong investor confidence in the firm's performance. Revenue soared to $7.75 billion, up 19% year-over-year and 9% quarter-over-quarter, slightly above estimates. Net inflows amounted to $205 billion, matching last year's strong third quarter, and assets under management climbed to $15.5 trillion.

BlackRock's adjusted operating margin peaked at 47.8%. Paramonov's price target of $1,400 is based on a 20x price-to-earnings multiple and forward EPS of $70 for the fourth quarter 2027 through the third quarter 2028 period. According to InvestingPro analysis, BlackRock appears undervalued at its current valuation. The firm reaffirmed its Buy rating on the asset manager.

Recent news also highlights BlackRock's continued strong performance, with earnings per share of $15.93 exceeding Wall Street's estimate of $14.30, revenue exceeding expectations at $7.75 billion, and net inflows of $205 billion, pushing assets under management to $15.5 trillion. Analysts from various firms, including Jefferies, TD Cowen, and Keefe, Bruyette & Woods, have responded positively to these developments, raising their price targets and emphasizing BlackRock's strong organic base fee growth, long-term inflows, and progress toward its 2030 targets.