The Blackstone Group L.P. Receives Buy Rating from Jefferies Group (BX)
The Blackstone Group L.P. (NYSE:BX)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group in a report released on Friday, AR Network reports. They currently have a $30.00 target price on the stock, up from their previous target price of $26.00. Jefferies Group’s target price indicates a potential upside of 20.00% from the company’s current price.
Shares of The Blackstone Group L.P. (NYSE:BX) opened at 24.81 on Friday. The Blackstone Group L.P. has a 52 week low of $13.31 and a 52 week high of $25.61. The stock’s 50-day moving average is $22.76 and its 200-day moving average is $21.71. The company has a market cap of $13.967 billion and a price-to-earnings ratio of 23.19.
The Blackstone Group L.P. (NYSE:BX) last released its earnings data on Thursday, July 18th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 129.7% on a year-over-year basis. Analysts expect that The Blackstone Group L.P. will post $2.38 EPS for the current fiscal year.
A number of other firms have also recently commented on BX. Analysts at Zacks reiterated a “neutral” rating on shares of The Blackstone Group L.P. (NYSE:BX) in a research note to investors on Wednesday, September 18th. They now have a $24.50 price target on the stock. Separately, analysts at Merrill Lynch upgraded shares of The Blackstone Group L.P. (NYSE:BX) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 16th. Finally, analysts at Bank of America Corp. upgraded shares of The Blackstone Group L.P. (NYSE:BX) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 16th. They now have a $28.00 price target on the stock, up previously from $25.00. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $27.46.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
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