Citi analyst Christopher Allen raised the firm’s price target on Blackstone to $127 from $124 and keeps a Neutral rating on the shares ahead of the Q2 report. The environment for the alternative asset managers improved modestly in Q2 relative to Q1, with deployment activity picking up, the analyst tells investors in a research note. However, fundraising “remains in a lower gear, and monetization activity remains sporadic,” adds Citi. The firm’s favorite names at the moment are Blue Owl Capital (OWL) and Apollo Global (APO).
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