Blackstone price target lowered to $160 from $180 at Wells Fargo

Wells Fargo analyst Michael Brown lowered the firm’s price target on Blackstone (BX) to $160 from $180 and keeps an Equal Weight rating on the shares. The firm sees greatest impact for episodic fee streams from macro and cap markets uncertainty, but long-term outlook remains upbeat, and valuations are more attractive after year-to-date underperformance.