Blackstone price target lowered to $100 from $105 at JPMorgan

JPMorgan lowered the firm’s price target on Blackstone to $100 from $105 and keeps a Neutral rating on the shares post the Q1 report. While the company’s overall profits “generally looked healthy,” Blackstone flows came in somewhat below projections with $34B missing the consensus estimate of $39.9B, the analyst tells investors in a research note. The firm cites slower fundraising this quarter and ongoing uncertainty around real estate performance for its Neutral rating.