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UPDATE: Bank of America Reinstates Coverage of Blackstone Group with a Neutral Rating and $17 PO

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Bank of America has reinstated coverage of Blackstone Group LP (NYSE: BX) with a Neutral rating and $17 price objective.

Bank of America noted, "[We] are reinstating coverage of Blackstone, a leading global alternative asset manager, with a Neutral rating and a $17 PO. Blackstone is one of the most diversified alternative asset managers in the industry, with products spanning private equity (PE), real estate (RE), credit, and hedge fund-of-funds (HFoF). While BX is well positioned over the long run given its diversity, strong performance, impressive fundraising, and an expected pick up in distributions, we see limited near term upside given some performance bumps (BCP V) & moderating fundraising (though still decent)."

Blackstone Group closed at $14.81 on Wednesday.

Latest Ratings for BX

DateFirmActionFromTo
Dec 2014Morgan StanleyInitiates Coverage onOutperform
Dec 2014Deutsche BankMaintainsBuy
Dec 2014BarclaysInitiates Coverage onOverweight

View More Analyst Ratings for BX
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Initiation Analyst Ratings

 

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