Core Insights - Morgan Stanley maintains an "Overweight" rating on BlackRock (BLK.US) with a target price of $1111.00, reflecting strong confidence in the company's future growth potential [1] - BlackRock has set ambitious growth targets for 2030, aiming for a revenue increase to $35 billion with a CAGR of 10%, operating profit to $15 billion with an 11% CAGR, and market value to $280 billion with a 12% CAGR [1] - The company plans to achieve these targets through organic growth and diversification, with management fee income expected to grow over 5% and a significant increase in revenue from private markets and technology [1] Business Expansion Strategies - BlackRock is expanding its business through acquisitions and strategic partnerships, including the recent acquisition of HPS Investment Partners and Global Infrastructure Partners, expected to complete by July 2025 [2] - The iShares and ETF platform is a core business, with global ETF assets projected to grow to $27 trillion at a 15% CAGR by 2030, and a strong outlook for the European market [2] - In active management, BlackRock has $3.6 trillion in assets with only a 4% market share, indicating substantial growth potential [2] Systematic Investment and Fixed Income - BlackRock manages approximately $320 billion in systematic investment assets and plans to leverage its strengths in big data and AI to enhance performance [3] - The company has $30 trillion in fixed income assets, with plans to launch new products to meet investor demand [3] - The private market is a key growth area, with a target to raise $400 billion by 2030 and increase management assets from $1.6 trillion to $4.5 trillion [3] International Market Focus - BlackRock aims to enhance its global market share, particularly in India through a partnership with Jio, targeting millions of customers by 2030 [4] - The company is also focusing on the Middle East, expecting management assets in the region to grow at over 15% CAGR [4] - Despite a positive growth outlook, BlackRock faces challenges such as market volatility and regulatory changes [4] Overall Growth Potential - Morgan Stanley's rating and target price reflect confidence in BlackRock's strategic initiatives across various sectors, including private markets, technology, ETFs, and international expansion [5]