The Blackstone Group (BX) PT Raised to $90 at Morgan Stanley on Thematic Search for Yield
- Wall Street closes lower as virus spike hits travel stocks
- Netflix (NFLX) Tops Q1 EPS by 78c, Subs Miss
- Kansas City Southern (KSU) Soars as Bidding War Brews After Canadian National Railway (CNI) Makes a $33.7 Billion Offer
- Analysts Positive, Raise PTs as IBM (IBM) Tops Market Estimates and Reaffirms Guidance
- Boeing (BA) Down 3% After CFO - Aged 54 - Retires, Seen as an 'Odd' Move
(Updated - March 16, 2021 8:40 AM EDT)
Morgan Stanley analyst Michael Cyprys raised the price target on The Blackstone Group (NYSE: BX) to $90.00 (from $84.00) while maintaining a Overweight rating after interviewing Blackstone President & COO Jon Gray and walking away with two key thoughts: 1) perpetual capital is BX's biggest potential growth driver given growing client interest in longer duration and more yield-oriented strategies and 2) Thematic investing is the key to its alpha generation with investment opportunities in ecommerce, travel, online content, software, green energy, and life sciences.
The analyst stated "Aging populations, thirst for income/yield in a low rate environment, lower public market returns, and demand for higher returns with a smoother ride are powerful secular tailwinds driving investors to allocate more money to alternative investments. Against this backdrop, BX is well positioned to take share in a growing pie, particularly as asset-owner clients and retail platforms are targeting a narrower set of managers with broader product offerings."
You May Also Be Interested In
- UPDATE: Netflix (NFLX) PT Lowered to $650 at Morgan Stanley
- UPDATE: Morgan Stanley Downgrades Zebra Technologies (ZBRA) to Underweight Due to Tough Comps
- Fingerprint Cards Ab (FINGB:SS) (FGRRF) PT Raised to SEK40 at UBS
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesMorgan Stanley
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!