NEW YORK (TheStreet) -- It has $4.52 trillion worth of assets under its watch, ranking it No. 1 in the world. But BlackRock (BLK - Get Report)  may not be done with its growth plans. It already has a 7% share of the asset-management industry. With fourth-quarter earnings due out Thursday, smart investors should pay attention to what the report reveals.

BlackRock shares are down 4% so far this year to around $345, trailing both the Dow Jones Industrial Average (DJI) and the S&P 500 (SPX) , which are both down about 2.5% for the year to date. However, the company is still a sound investment. Here's why.

Analysts at Goldman Sachs upgraded BlackRock's stock to buy Wednesday and gave them a $400 price target, suggesting gains of 16% or more.

Goldman's price target is on the high range of the consensus of analyst 12-month price projections, which averages out to $385. That suggests 12% gains -- a decent annual return.

The company "deserves a higher multiple," Goldman said, citing accelerated organic growth. Organic growth is exactly what makes BlackRock, which competes with asset-management firms such as T. Rowe Price Group (TROW - Get Report) , a compelling investment.

In the most recent quarter, for instance, BlackRock posted a 15.3% year over year jump in revenue, reaching $2.85 billion. Perhaps more impressive was the company's solid asset inflows among all of its products, reaching a combined $28.7 billion, jumping 4% year over year.

Asset Inflows is the metric that shows the overall strength of the business because it highlights how much money the company is taking in versus how much is being withdrawn. It supports Goldman Sachs' reference to organic growth. Also, it underscores how BlackRock fares agains asset managers like Swiss-based UBS AG (UBS - Get Report) and U.K.-based Barclays (BCS) .

The good news is, the pie is about to get bigger.

BlackRock projects the asset-management market will surge in the next couple of years by over 260%, reaching $225 trillion, according to data from the company's recent investor relations presentation. 

The market now stands at around $62 trillion. Factoring in BlackRock's 7% share, this means that if its prediction is correct it will have roughly $15.75 billion worth of assets under its watch. That's assuming it grows no market share at all and its share stays at only 7%. But that's highly unlikely.

In that regard, the fees BlackRock stands to gain on over $15 billion worth assets would be remarkable. For some context, BlackRock is expected grow fiscal 2014 full-year earnings by 16% year over year on 10% year-over-year growth in revenue.

Double-digit earnings and revenue growth is not an easy thing to do for a company that's already the leader in its market. But with the company expecting both its industry and market share to grow in the next couple of years, BlackRock, which pays a solid yield of 2.24%, remains a sound investment.

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TheStreet Ratings team rates BLACKROCK INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

"We rate BLACKROCK INC (BLK) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year, impressive record of earnings per share growth, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

You can view the full analysis from the report here: BLK Ratings Report

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.