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Last Call: BlackRock rises on upgrade

By Associated Press

June 23, 2008

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Shares of BlackRock Inc. rose Monday afternoon after a Goldman Sachs Group Inc. analyst raised his rating on the investment manager to "Buy," saying a shares are at an attractive price.

Analyst Marc Irizarry raised his rating from "Neutral" while holding his price target at $220.

BlackRock shares rose $4.14, or 2.1 percent, to $201.14 in late-afternoon trading.

The investment manager has been underperforming since April compared with its peers, Irizarry wrote in a research note. During that time though, BlackRock has actually improved operations, through "organic growth, benefiting from increasing fixed income flows and robust momentum in equities."

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