Piper Sandler lowered the firm’s price target on Blackstone to $107 from $111 and keeps an Overweight rating on the shares. The analyst remains bullish on Blackstone shares following the Q1 earnings report despite the weaker near-term performance fee and deployment outlook as well as "more muted" fee-related performance revenues. The company continues to fundraise across its drawdown funds, perpetual strategies and adds insurance assets, the analyst tells investors in a research note.
Published first on TheFly
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