BlackRock's Preqin Acquisition To Drive Revenue Synergies: Analyst Sees Expansion In Emerging Private Markets
BLKBlackRock(BLK) Benzinga·2024-07-03 01:57

Loading...Loading...Goldman Sachs analyst Alexander Blostein reiterated a Buy rating on BlackRock, Inc. 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 BlackRo ...