Barclays Slashes PT on BlackRock (BLK) to $1,340 From $1,360, Maintains an Overweight Rating

BlackRock, Inc. (NYSE:BLK) is one of the most profitable NYSE stocks to buy right now. On December 12, Barclays slashed its price target on BlackRock, Inc. (NYSE:BLK) to $1,340 from $1,360 and maintained an Overweight rating on the stock.

The firm told investors that it revised targets in the brokers, asset managers, and exchanges group to take into account its 2026 outlook, adding that markets “look constructive” going into the next year. This holds especially true for the alternative asset managers and wealth brokers. However, the firm expects a more mixed outlook for the exchanges and traditional asset managers going into 2026.

In addition, BlackRock, Inc. (NYSE:BLK) was initiated with a Neutral rating by UBS on December 11, with a price target of $1,180. Despite a mixed outlook on valuations and consensus expectations, the firm cited strong sector fundamentals across 20 US asset managers and brokers, adding that the outlook supports disciplined capital allocation, undervalued growth, and margin expansion for firms. However, secular tailwinds favor independent investment banks and wealth brokers where robust earnings growth appears only partly priced in, according to the firm.

BlackRock, Inc. (NYSE:BLK) also received a rating update from BofA on December 10, with the firm raising the price target to $1,464 from $1,456 and reaffirming a Buy rating. It told investors in a note on the brokers, asset managers, and exchanges group that it favors alternative asset managers to online brokers when looking towards 2026, primarily due to a stronger macro backdrop and better valuation and positioning setup.

BlackRock, Inc. (NYSE:BLK) provides investment, advisory, and risk management solutions, with its products including multi-asset and single-asset portfolios.

While we acknowledge the potential of BLK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.