These Analysts Slash Their Forecasts On Blackstone Following Downbeat Earnings
Portfolio Pulse from Lisa Levin
Blackstone Inc. (BX) reported weaker-than-expected Q3 earnings, with revenues of $2.32 billion, down 10% Y/Y and missing the consensus of $2.51 billion. Distributable Earnings per share of $0.94 also missed the consensus of $1.01. Following the earnings announcement, analysts from Morgan Stanley, BMO Capital, and Wells Fargo lowered their price targets on Blackstone.
October 20, 2023 | 6:46 pm
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NEGATIVE IMPACT
Blackstone's weaker-than-expected Q3 earnings led to lowered price targets by several analysts, which could negatively impact the stock's short-term performance.
Blackstone's Q3 earnings missed expectations, which led to lowered price targets by analysts from Morgan Stanley, BMO Capital, and Wells Fargo. This negative sentiment could lead to a short-term decrease in Blackstone's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100