Morgan Stanley analyst Michael Cyprys has maintained their bullish stance on BX stock, giving a Buy rating on April 15.
Michael Cyprys has given his Buy rating due to a combination of factors that highlight Blackstone Group’s strong positioning amidst economic uncertainty. The firm is well-equipped to navigate the current macroeconomic environment, boasting a robust and diverse franchise. Blackstone’s private wealth momentum continues to be strong, and there is an expansion in private credit opportunities, alongside accelerated fundraising and deployment activities.
Blackstone’s first-quarter results demonstrate its capability to leverage its substantial $177 billion in dry powder, which is expected to enhance long-term earnings potential. Cyprys views Blackstone as a stable option during turbulent times, supported by its long-term capital and ability to capitalize on market dislocations. Furthermore, Blackstone’s significant exposure to real assets, private credit, insurance, and the rise of private wealth positions it as an underappreciated beneficiary of these growth areas, offering a 16% upside to the price target of $150.
In another report released on April 15, JMP Securities also reiterated a Buy rating on the stock with a $165.00 price target.
BX’s price has also changed moderately for the past six months – from $169.730 to $130.390, which is a -23.18% drop .