TD Cowen's double upgrade from a top-tier firm adds significant conviction to an already bullish consensus, but the net negative EPS revisions warrant caution — the stock's setup is positive but not without headwinds.
Price Chart
Executive Summary
TD Cowen double-upgraded BlackRock (BLK) from Hold to Buy on October 20, 2026, raising its price target to $1405 from $1212. The new target implies 24.9% upside from the current price of $1124.60. TD Cowen has a 75% accuracy rate on 4 calls for BLK, ranking among the top-tier firms covering the stock. The consensus is heavily bullish, with 20 of 23 analysts at Buy or Strong Buy, a mean target of $1339.65, and a high of $1531. Momentum is positive with 2 upgrades and 0 downgrades in the past 30 days, though EPS revisions have been net negative (8 down vs 3 up for the current fiscal year). No insider trades were recorded, but institutional buying is strong, with several funds adding or initiating positions. This double upgrade from a high-accuracy firm is a significant bullish signal that reinforces the already favorable consensus view.
Impact Score
Consensus & Targets
The consensus is heavily bullish: 4 Strong Buy, 16 Buy, 3 Hold, 0 Sell, 0 Strong Sell — 87% Buy/Strong Buy. 23 analysts cover the stock. The direction is firmly bullish, with no bearish ratings.
Mean target $1339.65, median $1313, high $1531 (Morgan Stanley), low $1212 (prior TD Cowen). Current price $1124.60 implies 19.1% upside to the mean. TD Cowen's new $1405 target is above the mean and median, ranking 4th highest among 17 analysts.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-10-20 | TD Cowen | upgrade | Buy | $1,405.00 |
| 2026-10-19 | BMO Capital | maintain | Outperform | $1,350.00 |
| 2026-10-15 | UBS | maintain | Buy | $1,300.00 |
| 2026-10-15 | Morgan Stanley | maintain | Overweight | $1,531.00 |
| 2026-10-15 | JP Morgan | maintain | Overweight | $1,449.00 |
| 2026-10-15 | Barclays | maintain | Overweight | $1,410.00 |
| 2026-10-15 | Wells Fargo | maintain | Overweight | $1,250.00 |
| 2026-10-15 | Keefe, Bruyette & Woods | maintain | Outperform | $1,310.00 |
| 2026-10-13 | Morgan Stanley | maintain | Overweight | $1,468.00 |
| 2026-10-12 | TD Cowen | maintain | Hold | $1,212.00 |
30-day analyst activity: 2 upgrades (including this double upgrade), 0 downgrades. EPS revisions are mixed: for the current quarter, 1 revision up and 7 down; for the current fiscal year, 3 up and 8 down. Estimates are being revised lower overall, but the upgrade momentum is positive.
Firm Track Record — TD Cowen
TD Cowen accuracy: 55% on 2001 calls | avg return: 3.5%
Industry benchmark: mean 51% ± 10%. Top tier: ≥61% (mean + 1σ). Based on 15 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| Goldman Sachs | 80% | 4/5 | 4.9% | top tier |
| Argus Research | 75% | 3/4 | 12.9% | top tier |
| TD Cowen | 75% | 3/4 | 9.2% | top tier |
| Wells Fargo | 75% | 6/8 | 6.2% | top tier |
| UBS | 73% | 8/11 | 5.3% | top tier |
| Morgan Stanley | 71% | 12/17 | 5.9% | top tier |
| Evercore ISI Group | 70% | 7/10 | 5.6% | top tier |
| BMO Capital | 67% | 2/3 | 1.5% | top tier |
| JP Morgan | 67% | 6/9 | 4.5% | top tier |
| B of A Securities | 60% | 3/5 | 5.4% | above average |
TD Cowen has a 75% accuracy rate on 4 BLK calls, with an average return of 9.2% — top tier. This compares favorably to the firm's overall 55% accuracy on 2001 calls. Top firms on BLK include Goldman Sachs (80% on 5 calls) and Argus Research (75% on 4 calls). TD Cowen's call is above the consensus mean, making it a high-conviction, above-consensus upgrade.
Earnings Estimates
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| 0q | $15.48 | $14.88 — $16.05 | $7.9B | ↑1 ↓0 |
| +1q | $14.81 | $14.00 — $15.97 | $7.6B | ↑1 ↓0 |
| 0y | $58.30 | $56.84 — $64.40 | $29.4B | ↑2 ↓0 |
| +1y | $65.07 | $60.03 — $70.40 | $32.7B | ↑1 ↓0 |
Cross-Platform Signals
No insider trades were recorded. Congressional activity is mixed: one buy (Ro Khanna, $1K-$15K) and one sell (Rich McCormick, $1K-$15K). Institutional buying is strong: Farther Finance (+34.8%), Mather Group (+47.3%), Assenagon (+29.7%), and new positions from Optiver ($19.3M) and Renaissance Technologies ($114.2M). This institutional accumulation converges with the bullish analyst signal.
Investment Themes
Documents Analyzed
Report based on filing metadata.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Press Release | $1,127.66 | awaiting T+20 | — | $1,132.07 (+0.39%) |
Oct 20, 2026 6d ago | Institutional Cluster | $1,149.60 | awaiting T+20 | — | $1,132.07 (−1.53%) |
Oct 20, 2026 7d ago | ANALYST-UPGRADE | $1,128.68 | awaiting T+20 | — | $1,132.07 (+0.30%) |
Oct 14, 2026 13d ago | 8-K | $1,073.79 | awaiting T+20 | — | $1,132.07 (+5.43%) |
Oct 2, 2026 25d ago | ANALYST-UPGRADE | $1,059.63 | awaiting T+20 | — | $1,132.07 (+6.84%) |
Sep 23, 2026 4w ago | Press Release | $1,073.45 $1,137.29 | ▲ +5.95% | ▲ +6.37% | $1,132.07 (+5.46%) |
Aug 26, 2026 8w ago | 3 | $1,167.57 $1,073.45 | ▼ −8.06% | ▼ −7.55% | $1,132.07 (−3.04%) |
Aug 25, 2026 8w ago | Press Release | $1,173.21 $1,073.45 | ▼ −8.50% | ▼ −8.65% | $1,132.07 (−3.51%) |
Aug 19, 2026 9w ago | Press Release | $1,158.92 $1,053.96 | ▼ −9.06% | ▼ −7.11% | $1,132.07 (−2.32%) |
Aug 11, 2026 11w ago | Institutional Cluster | $1,148.84 $1,072.03 | ▼ −6.69% | ▼ −5.63% | $1,132.07 (−1.46%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers