Latest news with #WilliamKatz
Business Insider
12 hours ago
- Business
- Business Insider
BlackRock Stock (BLK) Gets a Boost from Its New Texas ETF
BlackRock (BLK) announced the launch of a new exchange-traded fund (ETF) that is focused on businesses in Texas. This fund, named iShares Texas Equity ETF (TEXN), will invest in companies that are headquartered in the state. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter BlackRock created the new Texas ETF as more corporations have moved their operations to the state, or are expanding their presence in it. A few notable examples include Tesla (TLSA), Chevron (CVX), Charles Schwab (SCHW), Oracle (ORCL), Hewlett Packard Enterprise (HPE), and Caterpillar (CAT). Interest in moving headquarters to Texas has grown due to the state's favorable tax laws. That's resulted in many businesses shifting operations out of California and other states with stricter tax laws. This has sparked concern from residents of these states that lost tax revenue will negatively affect them. BlackRock's Investments In Texas BlackRock's Texas ETF fund makes sense as the firm has $380 billion in assets connected to companies in the state. Included in that is $115 billion in the state's oil and gas industry. Its huge interest in Texas allows it to offer an ETF that already has strong ties to the area. BLK stock was up 1.43% as of Tuesday afternoon, extending a 24.16% 12-month rally. On the flip side of that, shares are down 1.35% year-to-date. The stock also received a reiterated Buy rating and $1,154 price target from five-star TD Cowen analyst William Katz. Is BlackRock Stock a Buy, Sell, or Hold? Turning to Wall Street, the analysts' consensus rating for BlackRock is Moderate Buy, based on 11 Buy and two Hold ratings over the past 12 months. With that comes an average BLK stock price target of $1,058.85, representing a potential 5.68% upside for the shares.
Yahoo
07-06-2025
- Business
- Yahoo
TD Cowen Maintains Buy Rating on Franklin Resources (BEN), Keeps $27 PT
On June 5, William Katz from TD Cowen maintained a Buy rating on Franklin Resources, Inc. (NYSE:BEN) and kept the price target unchanged at $27. The reiterated Buy rating comes after the company released its preliminary month-end Assets Under Management report. Franklin Resources, Inc. (NYSE:BEN) reported that its preliminary month-end assets under management (AUM) totaled $1.57 trillion, as of May 31. The AUM increased month-over-month from $1.53 trillion as of April 30. Management noted this increase as a reflection of positive market conditions. The company reported net inflows of $1 billion, including the $3 billion outflows at Western Asset Management, a subsidiary. A close-up of an investor making a transaction, with a financial graph reflecting the market trend. Katz noted Franklin Resources, Inc. (NYSE:BEN) exceeded long-term inflows expectations. Katz remains optimistic regarding the company's future performance expecting stronger core flows and a reduction in WAMCO-related run-off. Franklin Resources, Inc. (NYSE:BEN) is a global investment management company serving over 150 countries. The company specializes in equity, fixed-income, and multi-asset solutions for retail, institutional, and high-net-worth investors through its various brands. While we acknowledge the potential of BEN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
