The Week

Blackstone (BX) fell 4.38% this week to close at $136.15, while the S&P 500 edged up 0.09%, leaving the stock roughly 4.47 percentage points behind the benchmark. The week opened higher at $141.55 on Monday and touched a weekly peak of $144.45, but a 4.67% single-day drop on Tuesday to $136.66 set the tone for the rest of the session. The stock then traded between $134.395 and $140.615 over the next three days, finishing Friday at $136.15 with a weekly amplitude of 7.1%.

Key Events

The main story this week was redemption stress in Blackstone’s private credit fund. On 3 September, reports said investors sought to withdraw about 10% of the fund, with exit requests reaching $4.3 billion, and the firm held its withdrawal cap at 5%. That news weighed on the stock into Friday. At the same time, the company was active on the asset side: its $1.3 billion stake sale in Knowledge Realty Trust was fully subscribed, it was reported to be planning a listing of Spanish hotel operator HIP, and it joined Pimco in a $3 billion debt raise for Waymo. Blackstone Real Estate Income Trust also sold roughly 1.8 million unregistered shares for $26.5 million. Among institutional moves, Jefferies Financial Group bought 7,930 shares on Monday while Jackson Wealth Management trimmed its position on Tuesday.

Analyst Ratings

As of 3 September, 23 institutions cover Blackstone: 9 rate it buy, 3 overweight, and 11 hold, with no sell or underweight ratings. The consensus rating is buy, with a consensus target price of $144.05, implying about 5.8% upside from the current price. Targets range widely from $119 to $184. Within the asset management and custody banking industry, Blackstone ranks first among 109 covered companies.

The Week Ahead

On Tuesday 8 September, the US NFIB small business optimism index is due, with a prior reading of 99.8. Thursday 10 September brings a busy slate: the 10-year Treasury auction, initial jobless claims (prior 206), final demand PPI (prior 4.7, forecast 5.3), existing home sales on an annualised basis (prior 4.06, forecast 3.99), and EIA natural gas storage. The private credit redemption backlog is likely to remain in focus, and markets will watch whether other funds follow with similar withdrawal caps.

In Short

Blackstone spent the week under pressure from elevated redemption requests in its private credit fund, with the stock weakening and lagging the broader market. Yet the analyst picture remains constructive: consensus is buy, the target sits above spot, and the stock ranks first in its industry. On the valuation side, the shares trade at roughly 31x P/E and 12x P/B. The latest session’s money flow shows large and medium orders turning net sellers while small orders are net buyers. The key question ahead is whether redemption pressure eases, and how inflation data and Treasury auction results shift rate expectations.

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