Core Insights - The company reported a strong performance in its merger arbitrage strategy, achieving a return of +5.5% before expenses in Q2 2025 and +9.4% for the first half of the year, marking the best first-half performance in over 25 years [1] - The company anticipates vibrant M&A activity for the remainder of the year [1] - Assets Under Management (AUM) increased to $1.34 billion as of June 30, 2025, up from $1.27 billion at March 31, 2025 [1][3][8] - The book value per share rose to $43.30 at the end of the quarter, compared to $42.51 at the end of Q1 2025 [1][3] Financial Performance - Total revenues for Q2 2025 were $2.2 million, down from $2.6 million in Q2 2024 [4][32] - The company experienced an operating loss before management fees of $5.2 million in Q2 2025, compared to a loss of $3.2 million in Q2 2024 [5][33] - Net investment and other non-operating income surged to $32.9 million in Q2 2025, compared to $7.3 million in Q2 2024, driven by merger arbitrage investments [6][33] - Net income for Q2 2025 was $18.6 million, significantly higher than $3.0 million in Q2 2024, with net income per share increasing to $0.88 from $0.14 [2][32] M&A Activity and Outlook - Global M&A activity exceeded $1 trillion in Q2 2025, reflecting a 3% increase from Q1 2025 and a 33% increase year-over-year [14] - The company expects ongoing M&A activity to be supported by a more favorable antitrust environment and pent-up demand from acquirers [15] - Recent regulatory changes in the U.S. and abroad are anticipated to create a more favorable environment for merger arbitrage investing [16] Shareholder Actions - The Board authorized the repurchase of up to an additional 150,000 shares [1] - The company repurchased 21,241 Class A shares for $0.8 million during Q2 2025, with a total of 60,259 shares repurchased for $2.2 million in the first half of the year [22][23] - A semi-annual dividend of $0.10 per share was declared and paid to shareholders [22]

The revised target from Rothschild comes days after Keefe, Bruyette & Woods (KBW) also lifted its price target on Blackstone stock from $168 to $180, following the firm's stronger-than-expected quarterly earnings. On July 27, KBW cited higher-than-forecast fee-related earnings and net realizations as key drivers behind the $0.10 per-share earnings beat. Blackstone's 100% gross margin and 37% revenue growth over the past year were noted as evidence of its strong financial position. Blackstone stock (NYSE: BX ...

Core Viewpoint - Blackstone's stock price increased nearly 5% following an upgrade from UBS analyst Brennan Hawken, who raised the recommendation to buy with a price target of $180 per share, indicating a potential upside of almost 22% from current levels [1][2]. Group 1: Analyst Upgrade - UBS analyst Brennan Hawken upgraded Blackstone's recommendation from neutral to buy, setting a price target of $180 per share [2]. - The upgrade reflects a belief that the recent market sell-off was unjustified, leaving Blackstone's shares attractively valued [3]. Group 2: Company Operations - Blackstone has been active in its property operations, recently raising $8 billion for its Real Estate Debt Strategies V fund, which will be invested in North America, Europe, and Australia [4]. - The company's Blackstone Real Estate Investment Trust (BREIT) is viewed as a valuable asset that has faced unwarranted negative attention [3]. Group 3: Market Sentiment - The recent sell-off in Blackstone's stock is perceived as overly harsh, with no significant crisis to justify such pessimism [5]. - Current trading levels are considered relatively low, suggesting it may be an opportune time for investors to consider buying the stock [5].