UBS upgraded Blackstone (BX) to Buy from Neutral with an unchanged price target of $180. The analyst believes the recent 27% selloff in the shares “provides a window to invest in a premier” alternative investment platform with structural and scale advantages at a reasonable valuation. UBS says results from its annual financial advisor survey show that Blackstone’s “dominant position was completely unchanged.” It believes headwinds to the company’s real estate business have diminished, allowing for potential return contributions as early as this year.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BX:
- Sector Spotlight: Analysts believe bank weakness presents potential opportunity
- Goldman Sachs and Blackstone See Hope Through the Market Storm
- Trump Trade: Trump family holds talks for stake in Binance U.S. arm
- Blackstone, Goldman chiefs see upsides to Trump’s policies, FT reports
- Blackstone evaluates options for Witherspoon’s Hello Sunshine, Reuters says
Questions or Comments about the article? Write to editor@tipranks.com