Morgan Stanley Sees Multiple Growth Drivers For BlackRock

In a report published Wednesday, Morgan Stanley analyst Betsy L. Graseck reiterated an Overweight rating and $367.00 price target on BlackRock (NYSE: BLK).

In the report, Morgan Stanley noted, “We view BLK as well positioned in the current landscape given iShares platform, multi-asset & alts, & expect 12.1% 2013-15e EPS CAGR via ~4% organic growth & continued operating margin expansion. We expect BLK to gradually trade at a premium to peers (vs in-line now) as organic growth outpaces investor concerns of ‘too big to grow' and operating margin continues to grow. In the near-term, we believe BLK could outperform as investors play the ‘retail re-risking' trade on the view that iShares inflows accelerate.”

BlackRock closed on Tuesday at $312.05.