JPMorgan Upgrades BlackRock to Overweight, Citing Strong Fundamentals and Upside Potential

JPMorgan upgraded BlackRock to overweight, raising its price target to $1,364, implying about 25% upside from the previous close. The firm highlighted strong fundamentals, robust earnings growth, and favorable flow dynamics as drivers for future outperformance. BlackRock reported Q2 earnings of $13.91 per share on $7.08 billion in revenue, exceeding analysts’ expectations of $12.69 per share and $6.73 billion in revenue. Assets under management increased to $15.345 trillion, up from $14.842 trillion a quarter earlier. While the stock has risen only about 2% year‑to‑date and has lagged the broader market, JPMorgan expects the stock to catch up as investors recognize its solid fundamentals.

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