Blackstone added to ‘Financials’ Finest list’ at Morgan Stanley

Morgan Stanley analyst Michael Cyprys added Blackstone (BX) the firm’s "Financials’ Finest list" while removing LPL Financial (LPLA), a stock he downgraded this morning to Equal Weight. Blackstone at current levels offers an attractive entry point on a longer term view, with the shares trading at a low teens price-to-earnings multiple on normalized earnings, Cyprys tells investors in a research note. He views the company as a "best-in-class franchise with unrivalled product breadth and distribution capabilities that can grow faster than the market expects."