Blackstone price target raised to $117 from $115 at Oppenheimer

Oppenheimer analyst Chris Kotowski raised the firm’s price target on Blackstone to $117 from $115 and keeps an Outperform rating on the shares. Blackstone generally reported “quiet” realizations, fundraising, and deployments in Q2, though there was a notable uptick in private equity deployments, the analyst tells investors in a research note. Blackstone appears poised for a record year in 2024, between a well-positioned “back book” of investments with good performance, a massive cache of dry powder, and an improving market backdrop and accelerating PE deployments.