BlackRock (BLK) Stock Crashes—Despite Bold 2030 Plan to Double Market Cap

Wall Street''s favorite trillion-dollar gorilla just tripped over its own ambitions.

BlackRock shares nosedived today despite CEO Larry Fink''s pledge to double the firm''s market value by 2030—proving even the smart money can''t outrun bearish sentiment.

The irony? This comes as BlackRock deepens its crypto embrace with spot Bitcoin ETF dominance. Maybe traditional finance finally understands blockchain''s favorite lesson: past performance guarantees nothing.

One analyst quipped: ''When the world''s largest asset manager stumbles, the whole sector feels the tremor—except decentralized protocols, which don''t care about your quarterly earnings.''

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Take on Titans

The world’s largest asset manager, whose stock dropped 0.4% on the news, said in an investor presentation today that it wanted to drive its market value to $280 billion by 2030 from around $150 billion at the moment.

It also “aspires” to post annual revenues of over $35 billion in five years’ time, compared with $20 billion in 2024.

Key to that growth, the company said, will be taking on titans such as Blackstone Group (BX) and KKR & Co (KKR) in the private markets. Indeed, BlackRock also today set a $400 billion fundraising target for its private investment businesses.

Golden Age

It’s been building up its coverage in the sector, spending $28 billion over the last 12 months snapping up private asset firms such as Global Infrastructure Partners, credit firm HPS Investment Partners, and private-markets data firm Preqin.

Chief Financial Officer Martin Small said the firm’s 2030 strategy includes continuing to grow the firm with a top-five position in infrastructure and private credit markets. He targets existing clients, like insurers, family offices, and sovereign wealth funds, moving more of their assets to private markets within BlackRock.

In terms of sectors, BlackRock wants to profit from the “golden age” of infrastructure investing. This covers areas such as energy transition, data centers, and fixing aging infrastructure.

An example of this is the Panama Canal deal with CK Hutchison from earlier this year.

Is BLK a Good Stock to Buy Now?

On TipRanks, BLK has a Strong Buy consensus based on 9 Buy and 2 Hold ratings. Its highest price target is $1,111. BLK stock’s consensus price target is $1,036.27 implying an 4.80% upside.

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