UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on The Blackstone Group LP on Great End to 2014

In a report published Friday, Morgan Stanley analyst Michael J. Cyprys reiterated an Overweight rating on

, and raised the price target from $45.00 to $46.00. In the report, Morgan Stanley noted, “Tailwinds ahead to fundraising, deployment and harvesting. We think BX can grow cash EPS by 30% over the next 3-yrs to $3.28, which implies a 14.0x multiple on our $46 PT(25% upside). Significant cash realizations still to come from BCP V worth ~$1.50/share assuming no incremental appreciation.” The Blackstone Group LP closed on Thursday at $36.86.