0.31%QQQQ 43.45 
0.48%XLF 21.74 3.62%
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NEW YORK - A Goldman Sachs analyst upgraded asset manager company BlackRock Inc. Monday, saying the stock has slipped to an attractive price and the business is in good shape.
Marc Irizarry raised his rating to "Buy" from "Neutral," and holds a price target $220 per share. He noted that BlackRock recently received a $13.8 billion contract from the Texas Municipal Retirement System, and expects "stellar organic growth" in the second quarter as its core businesses improve.
Irizarry doubts Merrill Lynch will sell its 49-percent stake in BlackRock. He said the combination is important to both companies. He also said Merrill is locked into owning the stock until early 2009.
Since April 11, when Irizarry and Wachovia analyst Douglas Sipkin downgraded the stock, shares are down 10.6 percent. The stock finished at $197 Friday, and has traded between $139.20 and $231.99 over the last year.
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