BlackRock stock performance should catch up to its strong fundamentals, making it an attractive play for investors, according to JPMorgan. The investment bank upgraded the asset management giant to overweight from neutral. It also hiked its price target on shares to $1,364 from $1,165, implying nearly 25% upside from Wednesday’s close. “We see BlackRock as a best-in-class asset manager with executing against various growth drivers across different business lines,” analyst Michael Cho said Thursday in a note to clients. “Following the 2Q26 earnings release, we are upgrading the BlackRock stock…based on the strong setup for flows, organic revenue, and operating leverage ahead.” BlackRock on Wednesday reported earnings of $13.91, excluding certain items, on revenue of $7.08 billion for the second quarter. Analysts polled by FactSet had expected the firm to clock earnings of $12.69 per share and revenue of $6.73 billion. Its assets under management also ballooned to $15.345 trillion in the second quarter from $14.842 trillion. BLK YTD mountain BLK in 2026 Shares popped nearly 7% on Wednesday following the release. However, the stock is up just 2% in 2026. Its underperformance comes as private credit remains under pressure due to liquidity crunches and investors rotate out of asset management stocks and into artificial intelligence names. But JPMorgan expects BlackRock to have better days ahead in the market as investors begin to appreciate its strong fundamentals and potential to drive upside to shares. “BlackRock’s stock has lagged considerably … despite earnings growth that continues to remain robust,” Cho wrote. “We think the BlackRock stock will catch-up to the solid fundamental outlook, and expect outperformance from here.” JPMorgan’s call falls in line with consensus on the Street. Of the 19 analysts covering BlackRock, 16 have a buy or strong buy rating on the stock, LSEG data shows.
BlackRock posted blowout earnings. JPMorgan says it is a buy
