TD Cowen upgraded BlackRock shares and raised its price target on Oct. 20, while the asset manager’s third-quarter results showed $205.466 billion in net inflows across its businesses.
The brokerage moved the stock from Hold to Buy and set a $1,405 price target, up from $1,212. The rating concerns BlackRock shares as a whole, rather than its digital-asset products specifically.
BlackRock said it managed $15.488 trillion in assets at Sept. 30, 2026. The company identified iShares exchange-traded funds, systematic active equities, private markets and cash as contributors to firmwide inflows.
Its digital-asset category ended the quarter with $79.632 billion in assets. Quarterly net inflows into those products totaled $7.907 billion, while BlackRock recorded a $22.889 billion market change for the category. The market change added more to its assets than net inflows did.
BlackRock reported $39 million in base fees and securities-lending revenue from the digital-asset category, compared with $6.036 billion firmwide. The category includes the iShares Bitcoin Trust ETF, which seeks to track the price of Bitcoin (BTC). The category totals are broader than figures for that individual fund.
