Blackstone's Performance Could Accelerate In Second Half: Analysts Examine Q1 Results, Outlook
Portfolio Pulse from Priya Nigam
Blackstone Inc (NYSE:BX) reported upbeat Q1 earnings, with analysts providing mixed outlooks. Goldman Sachs cut its price target to $123, citing lower earnings estimates for 2024-2026. BofA Securities reduced its price target to $132 but maintained a Buy rating, expecting acceleration in fundamentals. JPMorgan lowered its price target to $100, noting better real estate fee-related performance but concerns over fundraising and real estate performance. HSBC maintained a Hold rating with a $122 price target, highlighting in-line AUM figures and a slight beat on net DE.
April 19, 2024 | 4:04 pm
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Blackstone Inc reported strong Q1 earnings, but analysts have mixed views on its future performance, leading to adjustments in price targets.
The mixed analyst outlooks and adjustments in price targets reflect a cautious optimism about Blackstone's future performance. While the company reported strong Q1 earnings, concerns about fundraising, real estate performance, and fee-related earnings adjustments suggest a neutral short-term impact on the stock price. The varying analyst ratings and price target adjustments indicate uncertainty about the company's ability to maintain its growth trajectory in the face of market challenges.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100