BLK - BlackRock's Preqin Acquisition To Drive Revenue Synergies: Analyst Sees Expansion In Emerging Private Markets | Benzinga
Goldman Sachs analyst Alexander Blostein reiterated a Buy rating on BlackRock, Inc. (NYSE:BLK) with a price forecast of $929.
According to Blostein, BlackRock’s latest acquisition — buying Preqin, a private markets data and solutions provider, for$3.2 billion — will provide a meaningful opportunity for revenue synergies, primarily from increased distribution via BlackRock’s broader network.
This transaction, funded with $3 billion of incremental debt, with just $200 million in cash, helps BlackRock expand into the emerging private markets data segment.
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