Barclays Cuts PT on Blackstone Inc. (BX) to $126 From $164 – Here’s Why

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 to treat with the lowest survival rates among leukemia types [2] - Johnson & Johnson and funds managed by BXLS will co-finance ongoing and future clinical trials of bleximenib in AML, marking the first co-funding agreement between BXLS and Johnson & Johnson [3] Group 2 - Blackstone Inc. operates through segments including Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions, providing investment and fund management services [3]