In a report released today, Michael Cyprys from Morgan Stanley maintained a Buy rating on Blackstone Group (BX), with a price target of $76.00. The company’s shares closed last Monday at $62.76, close to its 52-week high of $64.97.
According to TipRanks.com, Cyprys is a 4-star analyst with an average return of 7.8% and a 56.9% success rate. Cyprys covers the Financial sector, focusing on stocks such as Virtus Investment Partners, Apollo Global Management, and Victory Capital Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Blackstone Group with a $65.10 average price target, representing a 4.3% upside. In a report issued on February 10, Argus Research also maintained a Buy rating on the stock with a $72.00 price target.
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Based on Blackstone Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $779 million. In comparison, last year the company had a GAAP net loss of $10.87 million.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BX in relation to earlier this year.
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The Blackstone Group, Inc. 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.
