Weekly Recap | Blackstone -0.69%, consensus target above spot

The Week

Blackstone (BX) slipped 0.69% this week to close at $142.39, while the S&P 500 gained 0.49%, leaving the stock about 1.18 percentage points behind the benchmark. The week opened at $143.50, hit a high of $145.615 on Monday, then drifted lower through Tuesday with a low of $141.45 before settling around $142.39 on Friday. The overall pattern was a fade from the early peak into a low-level range.

Key Events

Asset disposals and investor communication were the main company-specific threads this week. On 27 August, Blackstone disclosed the sale of Jersey Mike’s Subs common shares worth $56.2 million. On 28 August, the firm said it was offering to sell up to 25% of India’s Knowledge REIT for more than $1 billion. Blackstone also announced on 26 August that it would present at the Barclays Global Financial Services Conference. Weekly filings showed several institutional position changes, including new stakes from Ally Financial and White Knight Strategic Wealth Advisors, though these are individual portfolio moves with limited read-through for the stock.

Analyst Ratings

A total of 23 institutions cover Blackstone: 9 rate it buy, 3 rate it overweight, and 11 rate it hold, with no underweight or sell ratings. The consensus rating is buy, and the consensus target price of $144.05 sits about 1.16% above the latest price of $142.39. The target range is wide at $119.00 to $184.00. Within the asset management and custody banking industry, Blackstone ranks first among 108 companies.

The Week Ahead

The coming week opens with a run of US macro data. On 31 August the Dallas Fed manufacturing activity index is released, followed on 1 September by the S&P Global manufacturing PMI final, the ISM manufacturing PMI and JOLTS job openings, and on 2 September by ADP private payrolls, factory orders and EIA crude inventory figures. These prints will shape the market’s view on the rate path and risk appetite, which can feed into valuation expectations for alternative asset managers like Blackstone.

In Short

Blackstone edged lower this week and lagged the S&P 500, but the analyst picture stays positive with a buy consensus and a target above spot. The firm’s moves on India’s Knowledge REIT and other assets point to continued portfolio reshaping. On valuation, the stock trades at roughly 32x earnings and 12.64x book, on the richer side. What comes next depends on how the macro data land and whether the disposal pipeline delivers new catalysts.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.