Seeking Alpha

Blackstone upped to Buy at BAML

  • It sounds like a "best of breed" call with analyst Michael Carrier saying Blackstone (BX +2.8%) deserves a buy rating thanks to rising distributions and asset growth at a time "when some in the sector  are likely to begin facing some cyclicality."
  • Carrier bumps his 2014 distributable earnings estimate by 10% and the price target to $28 from $25. The ramp in distributions over the next 18 months will first be driven by real estate, then "potentially" by private equity."
  • More Blackstone: As emerged-from-bankrputcy Eastman Kodak (EKDKQ.PK) prepares to come public again, it reveals its equity owners. Topping the list is Blackstone's GSO Capital Partners with a 22.6% stake.
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