KBW analyst Melissa Roberts reiterated a Buy rating on Blackstone Group (NYSE: BX) on October 9 and set a price target of $44. The company’s shares closed yesterday at $34.59.
According to TipRanks.com, Roberts is a 4-star analyst with an average return of 14.5% and a 67.6% success rate. Roberts covers the Financial sector, focusing on stocks such as First Midwest Bancorp, Affiliated Managers, and First Hawaiian Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Blackstone Group with a $44.44 average price target, which is a 28.5% upside from current levels. In a report issued on September 24, Morgan Stanley also maintained a Buy rating on the stock with a $48 price target.
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Based on Blackstone Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $742 million. In comparison, last year the company had a net profit of $385 million.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock.
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Blackstone Group LP engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions, and Credit.
