[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  DonCorleone77 [@CorleoneDon77](/creator/twitter/CorleoneDon77) on x 5403 followers Created: 2025-07-16 11:29:55 UTC $BLK Attached is page X of a 10-page Bank of America analyst report on BLK issued yesterday entitled: "2Q25E: Prepared to lead in 401k privates with HPS, GIP & Preqin; Reiterate Buy" Bank of America has a 'Buy' rating on BLK with a $XXXXX price target. Bank of America's summary statement regarding BLK in the report includes the following: "BLK prepared to lead in target date funds with privates: More than XX% of BLK’s $12.5Tn of AuM is related to retirement and the company has been at the forefront of innovation. BGI, which BLK acquired in 2010, innovated the first target date fund in 1993 and now BLK manages over $500B of target date funds. BLK is also a top five private markets manager with the additions of HPS and GIP. In late June, BLK was selected by Great Gray to provide a custom glidepath which includes private allocations in the first target date fund solution with both private equity and private credit. Moreover, BLK’s plan to launch a proprietary LifePath TDF with private markets exposure by 2026 is a sizable unlocking for alternatives. While adoption is partially gated by litigation and advice reform, management noted that there is growing regulatory momentum and positive engagement with policymakers. Raising LT EPS & PO; Forecast XX% total return potential: We lowered our 3Q25 EPS to $XXXXX from $XXXXX due primarily to increased expenses related to the HPS acquisition and the new G&A guide. However, we increased our 2025/26/27 EPS to $47.77/$52.59/$61.18 from $46.91/$53.22/$60.72 driven by an increase in management fees, performance fees and non-op income. Our PO rises to $XXXXX from $XXXXX and is based on a 20.0x multiple (unchanged) on 2027E EPS which implies XX% total return potential. Reiterate Buy – Leading investment/tech platform: In our view, BLK will continue to take market share through its secular growth businesses where it has a leading franchise and/or early mover advantages (ETFs, fixed income, multi-asset, privates, technology). We forecast 3-7% base fee organic growth across the cycle which should translate into mid double-digit EPS growth, enhanced by market beta, operating leverage and capital management. -- Price Objective Basis: Our PO of $1224 is based on a 20x 2027E EPS multiple. This is slightly lower than the mid-point of where the stock has traded over the last 12-18 months (17 to 24x range on next XX month EPS). The asset manager stocks are currently trading at a wide range (5-42x) with an average of 15x EPS and our PO assumes BLK maintains its historical premium (especially relative to the traditional asset managers given BLK's higher growth prospects). -- Risks to our PO are: (1) capacity and regulatory issues created by size, (2) negative markets or market-driven mix shift (divergent beta), (3) fee pressure (pricing cuts)." (Page X is not available here as X does not allow me to post pages from reports on this platform) XXX engagements  **Related Topics** [gibraltar pound](/topic/gibraltar-pound) [blk](/topic/blk) [united states](/topic/united-states) [bank of](/topic/bank-of) [$blk](/topic/$blk) [blackrock](/topic/blackrock) [stocks financial services](/topic/stocks-financial-services) [stocks bitcoin treasuries](/topic/stocks-bitcoin-treasuries) [Post Link](https://x.com/CorleoneDon77/status/1945445789003600129)
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DonCorleone77 @CorleoneDon77 on x 5403 followers
Created: 2025-07-16 11:29:55 UTC
$BLK
Attached is page X of a 10-page Bank of America analyst report on BLK issued yesterday entitled:
"2Q25E: Prepared to lead in 401k privates with HPS, GIP & Preqin; Reiterate Buy"
Bank of America has a 'Buy' rating on BLK with a $XXXXX price target.
Bank of America's summary statement regarding BLK in the report includes the following:
"BLK prepared to lead in target date funds with privates:
More than XX% of BLK’s $12.5Tn of AuM is related to retirement and the company has been at the forefront of innovation. BGI, which BLK acquired in 2010, innovated the first target date fund in 1993 and now BLK manages over $500B of target date funds. BLK is also a top five private markets manager with the additions of HPS and GIP. In late June, BLK was selected by Great Gray to provide a custom glidepath which includes private allocations in the first target date fund solution with both private equity and private credit.
Moreover, BLK’s plan to launch a proprietary LifePath TDF with private markets exposure by 2026 is a sizable unlocking for alternatives. While adoption is partially gated by litigation and advice reform, management noted that there is growing regulatory momentum and positive engagement with policymakers.
Raising LT EPS & PO; Forecast XX% total return potential:
We lowered our 3Q25 EPS to $XXXXX from $XXXXX due primarily to increased expenses related to the HPS acquisition and the new G&A guide. However, we increased our 2025/26/27 EPS to $47.77/$52.59/$61.18 from $46.91/$53.22/$60.72 driven by an increase in management fees, performance fees and non-op income.
Our PO rises to $XXXXX from $XXXXX and is based on a 20.0x multiple (unchanged) on 2027E EPS which implies XX% total return potential.
Reiterate Buy – Leading investment/tech platform:
In our view, BLK will continue to take market share through its secular growth businesses where it has a leading franchise and/or early mover advantages (ETFs, fixed income, multi-asset, privates, technology). We forecast 3-7% base fee organic growth across the cycle which should translate into mid double-digit EPS growth, enhanced by market beta, operating leverage and capital management.
-- Price Objective Basis:
Our PO of $1224 is based on a 20x 2027E EPS multiple. This is slightly lower than the mid-point of where the stock has traded over the last 12-18 months (17 to 24x range on next XX month EPS). The asset manager stocks are currently trading at a wide range (5-42x) with an average of 15x EPS and our PO assumes BLK maintains its historical premium (especially relative to the traditional asset managers given BLK's higher growth prospects).
-- Risks to our PO are:
(1) capacity and regulatory issues created by size, (2) negative markets or market-driven mix shift (divergent beta), (3) fee pressure (pricing cuts)."
(Page X is not available here as X does not allow me to post pages from reports on this platform)
XXX engagements
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