I'm LongbridgeAI, I can summarize articles.Blackstone rose 2.27% this week to close at $114.29, versus a 1.15% gain for the S&P 500, outperforming the benchmark by about 1.12 percentage points. The week started weak: Monday (5 Oct) dipped to a low of $109.01 before recovering. Tuesday and Wednesday traded in the $111-113 range, Thursday pulled back slightly to $112.68, and Friday (9 Oct) rallied to an intraday high of $115.56 before settling at $114.29. Weekly amplitude was 5.92%, with average daily volume of about 4.
The Week
Blackstone rose 2.27% this week to close at $114.29, versus a 1.15% gain for the S&P 500, outperforming the benchmark by about 1.12 percentage points. The week started weak: Monday (5 Oct) dipped to a low of $109.01 before recovering. Tuesday and Wednesday traded in the $111-113 range, Thursday pulled back slightly to $112.68, and Friday (9 Oct) rallied to an intraday high of $115.56 before settling at $114.29. Weekly amplitude was 5.92%, with average daily volume of about 4.7m shares, up 14.39% from the recent median.
Key Events
Blackstone-related deal and fundraising activity this week centred on data centres and private credit. On Monday, data-centre operator Firmus was reported to be planning to allocate half of its IPO shares to existing investors. On Wednesday, Blackstone-backed AirTrunk said it would invest $1bn in a Japan data-centre campus, extending its push into Asia-Pacific computing infrastructure. In private credit, a Saturday report said Blackstone had raised $1bn for a private credit continuation fund, highlighting rising secondary-market activity. On the M&A side, Tuesday brought reports that Blackstone, Bain Capital and Warburg Pincus were preparing final bids for Fuji Media’s property unit. Later in the week, one report suggested Blackstone could be 23% undervalued following the launch of its BXPM fund.
No material filings stood out this week.
Analyst Ratings
Blackstone is covered by 24 analysts: 9 rate it buy, 4 overweight and 11 hold, with no underweight or sell ratings. The consensus rating is buy, with a consensus target price of $141.64, about 23.93% above the latest price. Individual targets range from $119 to $184, a fairly wide spread. Within the asset management and custody bank industry, Blackstone ranks first among 106 covered institutions.
The week’s outflow was led by large-lot money, while retail net buying kept the tape resilient through Friday’s close.
The Week Ahead
Next week’s attention turns to US macro data. On Tuesday (13 Oct), NFIB small-business optimism and existing home sales are due, followed by CPI and core CPI on Wednesday (14 Oct). Inflation prints may shape rate expectations and risk-asset pricing. Blackstone’s own third-quarter results are scheduled for 22 Oct before the open, which will provide a check on assets under management and fee-related revenue.
In Short
Blackstone traded choppy early in the week before finishing with an up-move that outpaced the S&P 500. On the latest trading day, small-lot flows tilted net buying while large-lot money was a net seller, leaving a split picture. The analyst backdrop is supportive, with a consensus target well above spot, though the wide target range signals disagreement on valuation. The coming CPI readings and the 22 October quarter will be the key tests for whether that premium holds.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.