JPMorgan Lifts BlackRock to Overweight With $1,364 Target as Piper Starts SpaceX at Neutral
Updated
Updated · CNBC · Jul 16
JPMorgan Lifts BlackRock to Overweight With $1,364 Target as Piper Starts SpaceX at Neutral
2 articles · Updated · CNBC · Jul 16
Summary
JPMorgan upgraded BlackRock to overweight and raised its December 2026 price target to $1,364, arguing the stock has lagged despite robust earnings growth and should catch up with fundamentals.
Piper Sandler initiated SpaceX at neutral, citing near-term headwinds including staged lockup expirations and uncertainty over a potential Tesla acquisition that could cap upside.
Tech and AI calls stayed mixed: Seaport reiterated Nvidia at sell over higher pricing and $30 billion in customer backstops, while Baird backed Vertiv and nVent on Nvidia-linked cooling and power demand.
Consumer and entertainment names drew more caution, with BTIG downgrading Etsy to neutral, Truist cutting Lululemon to sell, and Wells Fargo moving Cinemark and Imax to equal weight on a weaker 2026 box-office outlook.