BlackRock Inc

BLK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$588.00	Blfrw	Fyhvcywvfv

BlackRock's Core Strengths Evident in Difficult Year for Equity and Credit Markets; FVE Raised to $810

Greggory Warren

Jan 20, 2023

We've raised our fair value estimate for wide-moat-rated BlackRock to $810 per share from $760 after updating our valuation model with new projections for near- to medium-term growth in managed assets, revenue, and operating earnings. We have also moved our Uncertainty Rating for the firm to High from Medium, requiring a wider margin of safety before recommending the shares, which are currently only slightly undervalued relative to our revised fair value estimate.

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