BlackRock estimates trimmed at Wells Fargo

• The key factors in cutting the EPS and price target forecasts is a decrease in estimates for AUM, performance fees, and investment gains. The team's new Q2 EPS forecast is for $4.87 vs. $5.01 previously (consensus is $4.81).
• Full-year EPS is now $19.40 from $19.75, and for 2017 is $22.95 from $23.30.
• The price target range is cut to $340-$370 from $345-$375. The stock remains rated at Market Perform.
• BLK closed Friday at $345.20.