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15 July 2024, 22:46 | Daniel Rich, CFA

CFRA Raises View on Shares of The AES Corporation to Buy from Hold

Shares of IPPs and solar firms are under pressure, which we think reflects fear that a second Trump presidency (betting odds moved sharply higher this weekend) will lead to less favorable policy including strict solar import tariffs and a possible attempt to repeal provisions of the IRA. Positively, we think domestic production of solar panels will increase and note other suppliers (e.g., Mexico a

AES

15 July 2024, 20:09 | Kenneth Leon

CFRA Reiterates Buy Opinion on Shares of The Goldman Sachs Group, Inc.

We think GS is poised for higher earnings from investment banking fees given the bank has stated its backlog has increased significantly (and due to the firm’s franchise strength in asset management). We raise our target $52 to $540 on a forward P/E of 13.2x, a wider risk premium than the 12.4x peer average. We leave our 2024 EPS unchanged at $38.00 and raise 2025’s $0.15 to $41.00. GS posted

GS

15 July 2024, 19:59 | Catherine Seifert

CFRA Keeps Buy Opinion on Shares of BlackRock, Inc.

We raise our 12-month target price by $20 to $935, valuing BLK shares at 17.6x our newly initiated ‘26 adjusted EPS estimate of $53.10 and 19.7x our ‘25 EPS estimate of $47.50 (upped by $1.00), versus its 3-year average forward multiple of 20x and a peer average of 15x. We lift our ‘24 EPS estimate by $0.06 to $43.26 after BLK posted Q2 EPS of $10.36 versus $9.28, versus our $10.30 EPS estim

BLK

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