Blackstone price target raised to $115 from $107 at Piper Sandler

Piper Sandler analyst Sumeet Mody raised the firm’s price target on Blackstone to $115 from $107 and keeps an Overweight rating on the shares post the Q2 results. Despite the weaker near-term realization, deployment and private wealth fundraising outlook as well as the recent stock price rally, the analyst remains bullish on Blackstone. The company’s chances of being included in the S&P 500 Index remain high and should be resolved later this quarter, the analyst tells investors in a research note.