Evercore Cuts BlackRock Target to $1,235 as Naturgy Stake Sale Nets €2.79 B
Evercore ISI lowered BlackRock’s price target to $1,235 from $1,275 following an early review of February and Q1 asset-management flows, while maintaining its Outperform rating. Separately, BlackRock completed the sale of its remaining 11.4% stake in Naturgy, raising about €2.79 billion at €25.20 per share.
1. Price Target Reduced by Evercore ISI
Evercore ISI adjusted its forecast for BlackRock shares, reducing the 12-month price target to $1,235 from $1,275 after an early review of February and Q1 traditional asset-management flows. The firm retained an Outperform rating, signaling confidence in BlackRock’s long-term prospects despite near-term flow volatility.
2. Completion of Naturgy Stake Sale
BlackRock sold its remaining 11.4% stake in Spanish utility Naturgy through an accelerated bookbuild, disposing of 110,753,554 shares at €25.20 each. The transaction generated approximately €2.79 billion, concluding a divestment that began in December and freeing up capital for alternative investments.