UBS upgrades BlackRock on stronger long‑term fee growth outlook

UBS upgrades asset manager BlackRock BLK.N to "buy" from "neutral"

Cites BLK’s base management fees — the recurring fee it earns for managing client assets — will continue growing at a solid pace for a longer period than previously expected

Adds BLK is well aligned with the most innovative areas of asset mgmt and long-term industry trends

Though not immune to private credit pressures, BLK’s large, diversified model remains resilient and somewhat agnostic to shifting asset flows, brokerage says

17 of 20 analysts rate stock "strong buy" or "buy" and 3 "hold"; their median PT is $1320 — data compiled by LSEG

Including session's move, BLK up 8.7% in the last 12 months