BofA lowered the firm’s price target on Blackstone (BX) to $166 from $207 and keeps a Buy rating on the shares. Blackstone beat on all major financial metrics except fee-related earnings in Q1, notes the analyst. However, the firm reduced its 2025, 2026 and 2027 EPS estimates to $4.67, $6.50 and $8.35, respectively, due to multiple revisions including lower fundraising, investing, realizations and returns, noting that it found more value in management’s forward commentary than Q1 results given the world has changed since “Liberation Day” on April 2.
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