Goldman Sachs raised the firm’s price target on Blackstone (BX) to $172 from $151 and keeps a Neutral rating on the shares. The firm notes the company’s better-than-expected Q2 results were underscored by solid fundraising across multiple channels with $52B in inflows amid strength in Private Equity, Credit/Insurance and the Wealth Channel; meaningful upside from FRPR and Transaction fees; and upside from monetization activity. Looking ahead, Goldman sees a number of positives.
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