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2018-11-06 13:41:04 BLK BlackRock $412.27 1.28 (0.31%) 13:41 11/06/18 11/06 13:41 11/06/18 13:41	German prosecutors search BlackRock's Munich offices, Reuters says Prosecutors searched the BlackRock's Munich offices on Tuesday as part of Germany's biggest post-war fraud probe, Reuters reports, citing a person with knowledge of the matter. The practice being examined, known as cum-ex, usually involved trading company shares rapidly around a syndicate of banks, investors, and hedge funds to create the impression of numerous owners, each of whom was entitled to a tax rebate, the report notes. Reference Link	29 Jan
BLK BlackRock $412.27 1.28 (0.31%) 10/17/18 SBSH 10/17/18 NO CHANGE Target $500 SBSH Buy BlackRock price target lowered to $500 from $550 at Citi Citi analyst William Katz lowered his price target for BlackRock to $500 saying near-term base fee pressure and elevated macro risk temper his bullish on the shares. However, the analyst left the company's Q3 results confident in its "resilient business model." He believes the core story is intact and keeps a Buy rating on BlackRock. 10/17/18 ARGS 10/17/18 NO CHANGE Target $535 ARGS Buy BlackRock price target lowered to $535 from $620 at Argus Argus analyst Stephen Biggar lowered his price target on BlackRock to $535 even though the company beat on Q3 earnings, saying that its revenue grew by "only 2%" and its long-term net inflows of $10.6B were the lightest in 10 quarters. The analyst notes that the industry is undergoing a period of weak inflows, with the institutional segment posting equity index outflows due to "trade tensions, emerging market weakness and a steepening yield curve". Biggar keeps his Buy rating on BlackRock longer term, noting that de-risking will eventually subside as the company continues to deliver above-average operating margins. 10/17/18 WELS 10/17/18 NO CHANGE Target $440 WELS Market Perform BlackRock price target lowered to $440 from $510 at Wells Fargo Wells Fargo analyst Christopher Harris lowered his price target for BlackRock to $440 from $510 after the stock sold off materially likely based on the quarter's revenue, operating income and flow shortfalls and the extent of fee rate degradation. The analyst reiterates a Market Perform rating on the shares. 10/22/18 RBCM 10/22/18 NO CHANGE Target $95 RBCM Sector Perform State Street price target lowered to $95 from $105 at RBC Capital RBC Capital analyst Gerard Cassidy lowered his price target on State Street (STT) to $95 and kept his Sector Perform rating after its "weak" Q3 results and limited visibility into 2019, also lowering his FY19 EPS view to $1.88 from $2.01. The analyst cites lower than expected profitability metrics that included a 10bp decline in the core ROAA as well as the company's 4.6% shortfall in non-interest income. Cassidy added that State Street is facing continued headwinds of a strengthening USD and the loss of BlackRock (BLK) business weigh on its servicing revenues.

2018-11-06 13:41:04

BLK

BlackRock

$412.27: 1.28 (0.31%)

13:41

11/06/18

11/06

13:41

11/06/18

13:41

German prosecutors search BlackRock's Munich offices, Reuters says

Prosecutors searched the BlackRock's Munich offices on Tuesday as part of Germany's biggest post-war fraud probe, Reuters reports, citing a person with knowledge of the matter. The practice being examined, known as cum-ex, usually involved trading company shares rapidly around a syndicate of banks, investors, and hedge funds to create the impression of numerous owners, each of whom was entitled to a tax rebate, the report notes. Reference Link

29
Jan

BLK BlackRock

$412.27: 1.28 (0.31%)

10/17/18: SBSH

10/17/18: ARGS

10/17/18: WELS

10/22/18: RBCM

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