Jefferies Reiterates Buy, $17 Target on Blackstone Group

In a published report, Jefferies maintains its Buy rating and $17 target price on The Blackstone Group, L.P. (NYSE: BX) as real estate is seen as likely driver in 2012.

According to Jefferies, “BX's real estate and hedge fund solutions segment appear to be positioned to generate the most consistent growth in the short term. Despite a volatile macro backdrop, we believe the secular demand trends for alternative assets remain in the early stages. BX's scale, superior investment track record and product diversity position it favorably to continue to gain market share.”

BX closed down 1.35 percent at $12.44 a share on Friday.