Goldman Sachs Upgrades The Blackstone Group (BX) to Buy

Goldman Sachs upgraded The Blackstone Group (NYSE: BX) from Neutral to Buy with a price target of $19 (up from $18).

The firm said they see meaningful fundraising opportunities in real estate and credit in 2012, ample FRE growth and performance fees that depend relatively less on IPO exit activity driving a solid ~5% yield.

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 $15.62 yesterday.

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