Blackstone upgraded to Buy on recent pullback at TD Cowen

TD Cowen upgraded Blackstone (BX) to Buy from Hold with a price target of $230, up from $149. The recent pullback in the shares has created an opportunity to add “another high quality” alternative asset manager to the “buy roster,” the analyst tells investors in a research note. The firm likes the set-up for the stock heading into 2025, expecting Blackstone to benefit from a number of themes in 2025, like retail democratization. TD sees another strong fundamental year for Blackstone.