BLK - BlackRock: Fairly Valued But No Clear Outperformance Catalyst With Equity At ATH
2024-05-24 04:36:10 ET
Summary
- BlackRock has matched the performance of the S&P 500 of the last year, but has significantly underperformed the Capital Markets benchmark by -21%.
- BLK trades at its historic forward PE multiple, but with revenue from equity being their largest driver, the growth potential is lower in the short-term with the market at all-time-highs.
- The law of large numbers is something that would affect them in terms of revenue growth against peers, but faster growth opportunities remain in the alternative and software solutions space.
- All these factors combined justify a hold rating on the stock of BlackRock.
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BlackRock: Fairly Valued, But No Clear Outperformance Catalyst, With Equity At ATH