Blackstone Exceeds Expectations After Identifying ‘The Macro Bottom’: Analysts Applaud ‘Best Investment Returns In 3 Years’
Blackstone Inc (NYSE:BX) reported upbeat revenues for its third quarter on Thursday.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
BMO Capital Markets On Blackstone
Analyst Étienne Ricard reiterated a Market Perform rating, while raising the price target from $112 to $134.
Blackstone delivered “its best investment returns in three years” in the third quarter, Ricard said in a note. The company deployed $34 billion in capital in the quarter, representing “a meaningful acceleration” from the $18 billion quarterly average in 2023, he added.
“Layering in a rise in capital deployment and asset monetizations, the fundraising and carry realization outlook is becoming increasingly clear,” the analyst wrote. The current valuation of the stock already reflects expectations of an “improving backdrop for transaction activity,” he further stated.
Check out other analyst stock ratings.
Goldman Sachs On Blackstone
Analyst Alexander Blostein reaffirmed a Neutral rating, …
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