Blackstone's Earnings In Focus: BofA Analyst Estimates In-Line But Sees Improving Outlook
Portfolio Pulse from Lekha Gupta
BofA Securities analyst Craig Siegenthaler provided insights on Blackstone Inc's (NYSE:BX) upcoming Q4 FY23 earnings, expecting in-line results but an improving outlook. Siegenthaler anticipates bullish trends in fundraising, investing, and realizations, despite recent adjustments due to negative returns in Blackstone's real estate funds. The near-term EPS revisions are not expected to significantly impact long-term EPS for 2025-26. Despite potential negative reactions to quarterly performance, the analyst foresees an improving trajectory by March and an end to BREIT limits by mid-2024, leading to a significant sales increase. Siegenthaler estimates EPS of $5.09 for FY24 and $6.48 for FY25, maintaining a Buy rating and a price target of $135 for BX stock, which he believes is undervalued. BX shares were down 1.9% to $118.65.
January 23, 2024 | 5:58 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
BofA analyst Craig Siegenthaler expects Blackstone's Q4 FY23 earnings to align with forecasts and sees an improving outlook. He maintains a Buy rating with a $135 price target, despite short-term EPS revisions and recent fund performance issues.
The analyst's positive outlook and maintained Buy rating suggest confidence in Blackstone's future performance, which could lead to a positive short-term impact on the stock price. The price target of $135 indicates a significant upside potential from the current trading price. However, the recent dip in share price reflects market reactions to short-term challenges, which may temper immediate gains.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100