UBS upgraded Blackstone (BX) to Buy from Neutral with an unchanged price target of $180. The analyst believes the recent 27% selloff in the shares “provides a window to invest in a premier” alternative investment platform with structural and scale advantages at a reasonable valuation. UBS says results from its annual financial advisor survey show that Blackstone’s “dominant position was completely unchanged.” It believes headwinds to the company’s real estate business have diminished, allowing for potential return contributions as early as this year.
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