Morgan Stanley Downgrades Blackstone (BX) to Equal Weight

Morgan Stanley downgrades Blackstone (NYSE: BX) from Overweight to Equal Weight, citing risks from write-downs.

The firm said large, additional write-downs seem likely, judging by the visible benchmarks and as the slowing macro backdrop and the deleveraging cycle pressure earnings and valuation.

The Blackstone Group L.P., together with its subsidiaries, provides alternative asset management and financial advisory services worldwide.

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