KCE - Blackstone: Lots Of Dry Powder But Shares Near Fair Value Ahead Of Earnings
2024-07-03 23:40:25 ET
Summary
- Blackstone has performed well since being added to the S&P 500, with questions remaining on M&A activity and real estate dealmaking.
- Despite solid management and earnings potential, the stock is close to fair value, prompting a rating shift from buy to hold.
- Analysts project strong EPS and revenue growth for Blackstone, with the potential for a growing dividend yield and improved valuation.
- I outline my fair value estimate and spot key spots on the chart ahead of Q2 earnings due out later this month.
Blackstone (BX) has performed well since being added to the S&P 500. The $150 billion market cap Asset Management and Custody Banks industry company within the Financials sector trades with a premium valuation multiple to its sector, but questions remain as to when M&A activity will pick up as well as how real estate dealmaking turns out over the back half of 2024. ...
Blackstone: Lots Of Dry Powder, But Shares Near Fair Value Ahead Of Earnings