The Blackstone Group L.P. Price Target Increased to $27.00 by Analysts at Morgan Stanley (BX)
Analysts at Morgan Stanley upped their price objective on shares of The Blackstone Group L.P. (NYSE:BX) from $25.00 to $27.00 in a research report issued to clients and investors on Thursday, StockRatingsNetwork reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 5.63% from the stock’s previous close.
BX has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of The Blackstone Group L.P. (NYSE:BX) from $26.00 to $30.00 in a research note to investors on Friday, September 27th. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. The Blackstone Group L.P. has a consensus rating of “Buy” and a consensus price target of $27.42.
The Blackstone Group L.P. (NYSE:BX) traded up 0.83% on Thursday, hitting $25.56. 6,611,501 shares of the company’s stock traded hands. 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 $23.00 and its 200-day moving average is $21.85. The company has a market cap of $14.389 billion and a P/E ratio of 23.52. The Blackstone Group L.P. also saw some unusual options trading on Tuesday. Stock traders purchased 9,753 put options on the stock. This is an increase of approximately 213% compared to the typical volume of 3,114 put options.
The Blackstone Group L.P. (NYSE:BX) last announced its earnings results 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.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.