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On Tuesday, Keefe, Bruyette & Woods adjusted their price target for The Blackstone Group (NYSE:BX) shares, decreasing it to $139 from the previous $141, while maintaining a Market Perform rating. The revision follows Blackstone’s latest earnings report, which slightly exceeded expectations.
The financial services company reported earnings that were a cent higher than Keefe, Bruyette & Woods’ estimates and two cents above the consensus. This was attributed to an increase in fee-related earnings, driven by a rise in base management fees and reduced expenses. Analysts at the firm commented on the earnings call, noting the current macroeconomic environment presents both challenges and opportunities for Blackstone.
On one side, the environment is likely to offer opportunities for asset deployment. Conversely, it is expected to extend the timelines for the realization of investments. Due to these factors, Keefe, Bruyette & Woods has revised its forward estimates for Blackstone, primarily based on a more conservative outlook for investment realizations.
The firm’s analysts elaborated on the decision, stating that the lowered price target to $139 from $141 is a direct consequence of the tempered realization forecast. This adjustment reflects the analysts’ expectations regarding Blackstone’s future performance in light of the current economic backdrop and its impact on the company’s investment activities.
In other recent news, Blackstone Inc. reported its first-quarter 2025 earnings, surpassing analyst expectations with earnings per share of $1.09, compared to the forecast of $1.06. The company also outperformed revenue projections, posting $3.29 billion against an anticipated $2.94 billion. These results highlight Blackstone’s strong operational performance and contributed to a 10% year-over-year increase in total assets under management, reaching nearly $1.2 trillion. Additionally, the firm declared a dividend of $0.93 per share. In related developments, TD Cowen upgraded its price target for Blackstone to $154 from $147, maintaining a Buy rating. This revision reflects anticipated long-term earnings strength, despite current macroeconomic uncertainties. The analyst firm highlighted Blackstone’s robust wealth management platform, which attracted $11 billion in gross inflows during the first quarter, as a key factor in its positive outlook. Looking ahead, Blackstone is expected to expand its distribution platform with the launch of a multi-asset credit fund aimed at Registered Investment Advisors.
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