Fintel reports that on December 9, 2024, TD Cowen upgraded their outlook for Blackstone (NYSE:BX) from Hold to Buy.
Analyst Price Forecast Suggests 6.15% Downside
As of December 3, 2024, the average one-year price target for Blackstone is $173.99/share. The forecasts range from a low of $135.34 to a high of $218.40. The average price target represents a decrease of 6.15% from its latest reported closing price of $185.39 / share.
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The projected annual revenue for Blackstone is 16,677MM, an increase of 49.73%. The projected annual non-GAAP EPS is 6.83.
What is the Fund Sentiment?
There are 2,636 funds or institutions reporting positions in Blackstone. This is an increase of 95 owner(s) or 3.74% in the last quarter. Average portfolio weight of all funds dedicated to BX is 0.49%, an increase of 10.59%. Total shares owned by institutions increased in the last three months by 5.42% to 609,962K shares. 
The put/call ratio of BX is 1.26, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 37,772K shares representing 5.17% ownership of the company. In its prior filing, the firm reported owning 37,155K shares , representing an increase of 1.64%. The firm increased its portfolio allocation in BX by 19.56% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 22,838K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 22,586K shares , representing an increase of 1.10%. The firm increased its portfolio allocation in BX by 17.47% over the last quarter.
Jpmorgan Chase holds 21,107K shares representing 2.89% ownership of the company. In its prior filing, the firm reported owning 15,309K shares , representing an increase of 27.47%. The firm decreased its portfolio allocation in BX by 89.34% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 18,858K shares representing 2.58% ownership of the company. In its prior filing, the firm reported owning 18,342K shares , representing an increase of 2.74%. The firm increased its portfolio allocation in BX by 17.03% over the last quarter.
Capital International Investors holds 16,031K shares representing 2.19% ownership of the company. In its prior filing, the firm reported owning 16,265K shares , representing a decrease of 1.46%. The firm increased its portfolio allocation in BX by 13.67% over the last quarter.
Blackstone Background Information
(This description is provided by the company.)
Blackstone is one of the world’s leading investment firms. It seeks to create positive economic impact and long-term value for its investors, the companies it invests in, and the communities in which it works. It does this by using extraordinary people and flexible capital to help companies solve problems. its $619 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.
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This story originally appeared on Fintel.
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