Jefferies Lifts Numbers on Blackstone Group (BX), Maintains Buy Rating

Jefferies raised estimates and their price target on The Blackstone Group (NYSE: BX) Monday while reiterating their Buy rating.

FY11 EPS estimates go from $1.66 to $1.81, FY12 goes from $2.05 to $2.09. The firm's price target goes from $21 to $22.

The firm states, "Unrealized performance fees within the company's real estate portfolio drove quarterly ENI of $0.51 compared to our estimate of $0.40 and consensus of $0.41. Fundamentals across the company's core businesses continues to improve which in turn should drive an acceleration to earnings throughout 2011 and beyond."

For more ratings news on The Blackstone Group click here and for the rating history of The Blackstone Group click here.

Shares of The Blackstone Group closed at $19.31 yesterday.

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