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.AccordingtoBlostein,BlackRockslatestacquisitionbuyingPreqin,aprivatemarketsdataandsolutionsprovider,for929. According to Blostein, BlackRock’s latest acquisition — buying Preqin, a private markets data and solutions provider, for3.2 billion — will provide a meaningful opportunity for revenue synergies, primarily from increased distribution via BlackRock’s broader network. This transaction, funded with 3billionofincrementaldebt,withjust3 billion of incremental debt, with just 200 million in cash, helps Bla ...