The Blackstone Group L.P. Receives Buy Rating from Deutsche Bank (BX)
The Blackstone Group L.P. (NYSE:BX)‘s stock had its “buy” rating reiterated by analysts at Deutsche Bank in a research report issued to clients and investors on Friday. They currently have a $40.00 target price on the stock. Deutsche Bank’s price objective would suggest a potential upside of 20.19% from the company’s current price.
A number of other analysts have also recently weighed in on BX. Analysts at Citigroup Inc. cut their price target on shares of The Blackstone Group L.P. from $42.00 to $40.00 in a research note on Wednesday, April 9th. They now have a “buy” rating on the stock. Separately, analysts at Sanford C. Bernstein initiated coverage on shares of The Blackstone Group L.P. in a research note on Thursday, April 3rd. They set an “outperform” rating and a $44.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated a “positive” rating on shares of The Blackstone Group L.P. in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The Blackstone Group L.P. presently has a consensus rating of “Buy” and an average price target of $34.89.
Shares of The Blackstone Group L.P. (NYSE:BX) traded down 0.78% on Friday, hitting $33.28. The stock had a trading volume of 2,831,786 shares. The Blackstone Group L.P. has a one year low of $19.15 and a one year high of $35.39. The stock’s 50-day moving average is $30.72 and its 200-day moving average is $31.39. The company has a market cap of $19.326 billion and a P/E ratio of 15.78.
The Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Thursday, April 17th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.14. The company had revenue of $484.00 million for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 19.9% on a year-over-year basis. Analysts expect that The Blackstone Group L.P. will post $3.14 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.
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