UPDATE: BMO Upgrades The Blackstone Group (BX) to Outperform Amid 'Strong New-Asset Growth'

July 5, 2012 6:36 AM EDT
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Price: $29.58 +0.92%

Rating Summary:
    20 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - July 5, 2012 7:46 AM EDT)

An analyst at BMO Capital upgraded The Blackstone Group (NYSE: BX) from Market Perform to Outperform Thursday morning. The analyst's price target was raised from $16 to $17. "...Strong new-asset growth an valuation" were cited.

The analyst said, "The alternative-asset fundraising environment has been healthy in 2012 despite economic and sovereign debt uncertainty. We believe established managers with strong track records and reputations, such as Blackstone, continue to have good access to limited-partner contributions."

Shares of The Blackstone Group closed Tuesday's holiday-shortened trading session up 0.45 percent to $13.39.

For an analyst ratings summary and ratings history on The Blackstone Group click here. For more ratings news on The Blackstone Group click here.

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