Blackstone price target raised to $145 from $130 at BofA

BofA raised the firm’s price target on Blackstone to $145 from $130 and keeps a Buy rating on the shares. Blackstone missed distributable EPS after only one miss since Q3 of 2020, notes the firm, which attributes the outperformance in shares yesterday to investor positioning and a crowded level of short interest. Blackstone reported “strong” investing and realization results while fundraising and FRE were closer to estimates, added the firm, which looks for fundraising, investing, returns and realizations to all improve or remain strong going forward.