Jefferies Maintains a Buy' on The Blackstone Group (BX); 3Q Preview: Investment Opps Plentiful but Negative Marks Likely Impactful

Jefferies maintains a Buy' on The Blackstone Group (NYSE: BX) price target lowered from $22 to $17.

Jefferies analyst says, "BX will report 3Q11 earnings on Thursday, October 20th. Portfolio valuations across PE and RE declined during the quarter as equity markets pulled-back, spreads widened, and the IPO environment stagnated. As a result, we are lowering our 3Q11 ENI estimate by $0.42 to -$0.03 and lowering our price target."

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 $13.65 yesterday.

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