Morgan Stanley analyst Michael Cyprys noted that U.S. Traditional Asset Managers start reporting quarterly results next week, with BlackRock (BLK) reporting on January 15. He is raising his Q4 EPS estimates by 2.2% on average for the group, given that he expects rising equity markets will boost asset under management levels. He would be a buyer of BlackRock shares ahead of its report and reiterated the stock as a top pick for 2020, noting that he projects net inflows of $90B in Q4, topping the consensus forecast for $78B inflows. He would be a seller of Legg Mason (LM) and Franklin Resources (BEN) ahead of their reports as his flow estimates for both are below consensus, Cyprys added.