BofA lowered the firm’s price target on Blackstone to $132 from $141 and keeps a Buy rating on the shares. While the firm increased 2024, 2025 and 2026 EPS estimates and says it looks for fundraising, investing, returns and realizations to all improve for Blackstone and the Alts in 2024, it notes that the higher 10-year, fewer Fed cuts and REIT stock correction have caused a near-term headwind for Blackstone in particular.
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