Blackstone Inc (NYSE:BX) Thursday reported upbeat earnings for its first quarter.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.

Goldman Sachs On Blackstone

Analyst Alexander Blostein reiterated a Neutral rating while cutting the price target to $123.

Following Blackstone’s first-quarter results, the earnings estimates for 2024, 2025 and 2026 have been lowered from $4.56 per share to $4.60 per share, from $5.76 per share to $5.92 per share, and from $6.69 per share to $6.73 per share, respectively, “to reflect marginally lower FRE (fee-related earnings) estimates and a further push-out in PRE re-acceleration — mid-single digits downside vs. consensus,” Blostein said in a note.

“We expect BX’s near-term management fee growth to remain range-bound, but a path toward meaningful acceleration remains intact into 2H24 (+13% YoY) and into 2025 (+15% YoY),” the analyst stated.  “In terms of activity, management highlighted a more compelling case …

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