These Analysts Increase Their Forecasts On Blackstone Following Q2 Results however, TD Cowen analyst Bill Katz, Piper Sandler analyst Crispin Love, increase in earnings for Blackstone, B of A Securities analyst Craig Siegenthaler, Blackstone's Q2 fiscal year 2024 financial results, Entities extracted are as follows: Blackstone Inc (BX), announcement of a quarterl.. by https://www.benzinga.com/
AI Insights:
Simple Explanation:
Blackstone is a big company that makes a lot of money. Recently, they made more money than people thought they would. So, some people who guess how much money a company will make in the future think Blackstone will do even better. They changed their minds about how much Blackstone's stock is worth. Some people think it will go up a lot, and some think it will not go up much. Read from source...
Critical Perspective:
Avi Kapoor, Benzinga Staff Writer portrays Blackstone Inc BX's Q2 results positively, declaring the company's beaten consensus adjusted revenues of $2.796 billion, rising asset under management by 7% Y/Y to $1.076 trillion, and a dividend per share of $0.82. However, Distributable EPS missed consensus at 96 cents, raising questions on the efficacy of the figures presented. The price target increases from $134 to $149, $114 to $120, and $130 to $145 by Piper Sandler, TD Cowen, and B of A Securities analysts, respectively, sparking further debate on the stock's value.
Sentiment Analysis:
bullish
The increase in Blackstone's earnings and asset under management indicates a strong performance in their Q2 fiscal year 2024, and it seems the market is positively reacting to the results, with the company's shares rising. The raised price targets from Piper Sandler, TD Cowen, and B of A Securities analysts show confidence in Blackstone's future performance, further pointing towards a bullish sentiment.
Investment Analysis:
We are not financial advisors. It's always essential for you to consult with a financial advisor and do your research before making any decisions about investments.
Based on the article, Blackstone Inc (BX) reported strong Q2 results, with adjusted revenues beating consensus estimates. However, the company's Distributable Earnings Per Share (EPS) missed consensus estimates. The stock's performance was also positively impacted by rumors of a potential sale of Blackstone's minority stake in HH Global. Multiple analysts raised their price targets on Blackstone after the announcement.
Key Recommendations:
1. Piper Sandler - Maintained Overweight rating and raised the price target from $134 to $149.
2. TD Cowen - Maintained Hold rating and increased the price target from $114 to $120.
3. B of A Securities - Maintained Buy rating and boosted the price target from $130 to $145.
Risks:
1. Blackstone's miss on EPS could potentially impact investor sentiment.
2. The rumors surrounding a potential sale of the company's minority stake in HH Global might not materialize, leading to a potential drop in the stock's performance.
Overall, while Blackstone reported strong Q2 results, investors should take into account the risks associated with the company's EPS miss and potential uncertainties regarding the sale of its minority stake.