The Week

Blackstone (BX) fell 5.63% this week to close at $111.75, underperforming the S&P 500, which slipped 0.27%. It was a steady decline from Monday’s open at $117, hitting a weekly low of $109.655 on Thursday before a Friday bounce to $115.58 and a final pull back to $111.75. The week’s range was 6.58%, and average daily volume came in about 58.67% above the 60-day median, marking a clear pickup in turnover.\n\n## Key Events\n\nThe dominant story was a leadership shift. Blackstone’s long-time head of its $450 billion private equity business is preparing to leave the firm, news that surfaced Monday and Tuesday and matched a 3.61% drop on Monday. Elsewhere the firm kept building: it launched Norla, a Nordic logistics warehouse investment platform, and on Thursday moved to back the defence tech firm Falcata through its TSC and ASEI acquisitions, a move worth about $1 billion. Goldman’s $18 billion private credit fund again fended off redemption pressure, and even as private credit fears faded, BX slid alongside Apollo and Blue Owl. Friday brought Broadcom’s reported $60 billion chip-funding effort for Anthropic, a news item with limited direct read-through for Blackstone.\n\n## Analyst Ratings\n\nAmong 24 brokers covering BX, 13 rate it buy or overweight and 11 rate it hold, with no underweight or sell ratings. The consensus rating is buy, and the consensus target of $142.82 stands about 27.8% above the latest price. Target prices span $119 to $184, showing wide dispersion. BX ranks first among 106 asset management and custody banking names on ratings strength.\n\n## The Week Ahead\n\nBlackstone reports fiscal Q3 2026 results on 22 October before the open; consensus estimates point to EPS of $1.34 and revenue of $3.383 billion. Before that, US macro data picks up: Monday brings the S&P Global services PMI final and ISM non-manufacturing PMI, Tuesday the trade balance, and Wednesday EIA crude inventories. Watch for any update on the private equity succession and early signals from Norla and Falcata.\n\n## In Short\n\nBX’s weakness this week tracked the private equity leadership news, while broker ratings remain constructive with a consensus target above spot. Valuation sits near a P/E of 25.4x and a dividend yield of 4.68%, but the latest session shows large-lot money as a net seller while small and medium orders are net buyers. The next test is whether Q3 earnings stabilise expectations and how much the leadership change actually weighs on the private equity franchise.\n\nThis article is generated by LongbridgeAI from market data, for information only and not investment advice.