Jefferies analyst Surinder Thind gives "two thumbs up" to the strategic relationship announced yesterday by Envestnet (ENV) and BlackRock (BLK). Envestnet will accelerate the integration of BlackRock's digital wealth offerings into its platform, while also selling the company a 4.9% stake for $123M, Thind tells investors in a research note. He finds the relationship mutually beneficial saying it provides Envestnet with growth capital and a broader offering that should positively impact its growth rate, while BlackRock gets access to "one of the industry's largest distribution platforms for financial advisors." The analyst lowered his price target for Envestnet to $65 from $70 and keeps a Buy rating on the shares.