Barclays Cuts PT on Blackstone Inc. (BX) to $126 From $164

Group 1 - Barclays has cut the price target for Blackstone Inc. (BX) from $164 to $126 while maintaining an Equal Weight rating, citing early uncertainty regarding the impact of AI on portfolio companies and lowering earnings estimates for business development companies due to reduced flow assumptions [1] - Blackstone Life Sciences (BXLS) announced a funding agreement to advance the clinical development of bleximenib, an investigational oral menin inhibitor for acute myeloid leukemia (AML), which is noted as a challenging ailment with the lowest survival rates among leukemia types [2] - The co-funding agreement between Blackstone Inc. and Johnson & Johnson for the clinical trials of bleximenib marks a significant collaboration, indicating a strategic partnership in the healthcare sector [3] Group 2 - The investment landscape is shifting, with certain AI stocks being perceived as having greater upside potential and lower downside risk compared to Blackstone, suggesting a competitive environment for investment opportunities [4]