Blackstone price target raised to $138 from $111 at Jefferies

Jefferies raised the firm’s price target on Blackstone to $138 from $111 and keeps a Buy rating on the shares. Into Q4 earnings, the firm is reducing estimates by 1.5% on average for the alternative asset managers, largely to reflect lower activity levels. While deployment activity is on the rise, monetizations and exits “remain muted” and flagship fundraising remains challenged, the analyst tells investors.