Blackstone price target lowered to $126 from $165 at BMO Capital

BMO Capital analyst Brennan Hawken lowered the firm’s price target on Blackstone (BX) to $126 from $165 and keeps an Outperform rating on the shares as part of a broader research note on Alternative Asset Manager names. Issues are piling up, with BDC redemptions, credit issues at Asset-Based Finance markets, AI-driven disruption weighing on performance, and market volatility now raising uncertainty around realizations, the analyst tells investors in a research note. Credit spreads are also widening and fraud allegations raise questions around underwriting and downside protection, the firm added.