Asset manager Blackstone rises after UBS upgrades to 'buy'
ReutersMar 17, 2025 2:59 PM
Alternative asset manager Blackstone's BX.N shares rise 2.3% to $144.12
UBS upgrades BX to "buy" from "neutral"; maintains $180 PT, a 27.8% upside to stock's last close
Brokerage says the recent sell-off in BX provides a window to invest in a premier franchise with attractive long-term growth
Says BX's competitive moat remains intact in wealth management, which should continue to drive fundraising into higher-fee products as retail allocations to alternatives expand
UBS also believes headwinds to BX's real estate business have diminished, allowing for potential fee-related performance revenue as early as this year
10 of 24 brokerages rate the stock "buy" or higher and 14 "hold"; median PT is $184 - data compiled by LSEG
BX stock down 16.5% YTD
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