BlackRock Upgraded to “Outperform” at Credit Suisse (BLK)

in Gold Gold Investing by admin — March 17, 2010 6:00 am | no comments

Asset manager BlackRock, Inc. ( BLK ) saw its rating and price target boosted on Wednesday by analysts at Credit Suisse. The analyst raised its rating on BLK to “Outperform” from “Neutral,” lifting its price target for the stock to $280 from $270. BlackRock shares had closed at $212.35 on Tuesday. Suisse, which also added the stock to its “Focus List,” noted the company has underperformed asset manager peers by 11% year-to-date, and lauded the stock’s attractive current valuation. Consequently, the firm raised its 2011 earnings estimates for BLK to $13.50 from $13.30 per share, which is ahead of the consensus estimate of $13.22. BlackRock shares rose $6.73, or +3.2%, in premarket trading Wednesday. The Bottom Line We have just added shares of BLK to our “recommended” list. The company has a 1.88% dividend yield, based on last night’s closing stock price of $212.35. BlackRock, Inc. ( BLK ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .