UPDATE: Barclays Upgrades The Blackstone Group (BX) to Overweight; The Characteristics We're Looking For
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Price: $22.38 -4.07%
Rating Summary:
11 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
11 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade BX Now!
(Updated - June 12, 2012 4:24 PM EDT)
Barclays upgraded The Blackstone Group (NYSE: BX) from Equalweight to Overweight with a price target of $15.00 (from $18.00).
Analyst, Roger A. Freeman, thinks the current industry (U.S. Brokers, Asset Managers, & Exchanges) is well positioned (at present). Private equity is active and looking to monetize portfolios. However growth (earnings) has been by non-cash based performance...but the cycle is heading up and fee based accounts should only be one portion of revenue generated. Overall, Freeman believes there is considerable value being left on the table as far as the alternative asset manager sector goes...thus the upgrade.
Freeman lowers FY12 EPS estimate from $1.75 to $1.41, and FY13 from $2.34 to $2.30.
Also of note, Barclays initiated coverage on the Carlyle Group (NYSE: CG) this morning at Equalweight. All in - they like the company, but shares reflect current valuation.
For an analyst ratings summary and ratings history on The Blackstone Group click here. For more ratings news on The Blackstone Group click here.
Shares of The Blackstone Group closed at $12.00 yesterday, with a 52 week range of $10.51-$17.78.
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Barclays upgraded The Blackstone Group (NYSE: BX) from Equalweight to Overweight with a price target of $15.00 (from $18.00).
Analyst, Roger A. Freeman, thinks the current industry (U.S. Brokers, Asset Managers, & Exchanges) is well positioned (at present). Private equity is active and looking to monetize portfolios. However growth (earnings) has been by non-cash based performance...but the cycle is heading up and fee based accounts should only be one portion of revenue generated. Overall, Freeman believes there is considerable value being left on the table as far as the alternative asset manager sector goes...thus the upgrade.
Freeman lowers FY12 EPS estimate from $1.75 to $1.41, and FY13 from $2.34 to $2.30.
Also of note, Barclays initiated coverage on the Carlyle Group (NYSE: CG) this morning at Equalweight. All in - they like the company, but shares reflect current valuation.
For an analyst ratings summary and ratings history on The Blackstone Group click here. For more ratings news on The Blackstone Group click here.
Shares of The Blackstone Group closed at $12.00 yesterday, with a 52 week range of $10.51-$17.78.
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