Rothschild & Co sets Blackstone stock price target

Core Insights - Rothschild & Co Redburn raised Blackstone's price target from $144 to $168 while maintaining a 'Neutral' recommendation [1] - Keefe, Bruyette & Woods (KBW) also increased its price target for Blackstone from $168 to $180 following stronger-than-expected quarterly earnings [3] - Blackstone's stock price is currently trading at $176, slightly below the new target, and has seen a year-to-date increase of 2.4% despite a recent 0.7% decline [1][3] Financial Performance - KBW highlighted higher-than-forecast fee-related earnings and net realizations as key drivers behind a $0.10 per-share earnings beat [4] - Blackstone reported a 100% gross margin and 37% revenue growth over the past year, indicating a strong financial position [4] - KBW raised forward projections for Blackstone's stock, particularly in its private equity and credit divisions, while remaining cautious on the real estate segment [4] Recent Events - The stock price is under scrutiny due to a tragic mass shooting at Blackstone's Manhattan headquarters, resulting in the deaths of four individuals, including the CEO of its BREIT real estate fund [5] - Following the incident, Blackstone confirmed that its offices would remain closed on the following day [5] - Despite these challenges, analysts' revisions indicate continued confidence in Blackstone's core business strength [6]