19 hours ago
Blackstone: Innovation Could Lead to More Upside
Blackstone Group's (BX) stock has risen nearly 30% to a recent $34.58 so far this year, but one analyst thinks the company's shares have even more room to run. Morgan Stanley analyst Michael Cyprys, who has an Overweight rating on Blackstone stock, raised his price target by $3 to $40, implying upside of 17%. The analyst thinks that Blackstone deserves an Overweight rating because it offers the best mix of products to drive cash earnings higher, has a fundraising machine that is expected to raise $100 billion this year and in 2018, and is best-positioned among alternative asset management firms with a leading position across major categories.