On Oct 18, major Wall Street analysts update their ratings for $Blackstone (BX.US)$, with price targets ranging from $170 to $192.
Goldman Sachs analyst Alexander Blostein maintains with a hold rating.
BofA Securities analyst Craig Siegenthaler maintains with a buy rating, and adjusts the target price from $145 to $192.
Citi analyst Christopher Allen maintains with a hold rating, and adjusts the target price from $124 to $170.
Barclays analyst Benjamin Budish maintains with a hold rating, and adjusts the target price from $155 to $174.
Wells Fargo analyst Michael Brown maintains with a buy rating, and adjusts the target price from $169 to $188.
Furthermore, according to the comprehensive report, the opinions of $Blackstone (BX.US)$'s main analysts recently are as follows:
Following Blackstone's report of stronger-than-anticipated Q3 results, which included fundraising, deployments, and realizations surpassing expectations, it's noted there's a continued support for a broad-based acceleration in transaction activity. This uptick in both mergers and acquisitions and initial public offerings is observed as discount rates fall and decisions are taken with greater clarity post the November elections.
Post the company's Q3 report, Blackstone's outlook is on an upward trajectory as healthy fundraising and deployment trends persist. However, there is a perception of balanced risk/reward at the current valuation.
The company's third-quarter earnings surpassed expectations, and management's outlook was notably optimistic.
The firm notes that Blackstone had a satisfactory quarter with several positive indicators that suggest potential for future earnings expansion. They highlighted the company's prominence in its sector, despite it not having the highest growth rate, it commands a significant valuation multiple.
Management described a progressively favorable outlook towards 2025. However, estimates for distributable earnings in the fourth quarter of 2024 and 2025 were adjusted to account for a decrease in fee-related earnings and net realizations for the fourth quarter, along with an increase in net realizations counterbalanced by a reduction in fee-related earnings for 2025.
Here are the latest investment ratings and price targets for $Blackstone (BX.US)$ from 6 analysts:
Note:
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