Blackstone (NYSE:BX) slumps 1.2% in premarket trading after Citi downgrades its recommendation on the stock to neutral from buy.
Sets price target to $52, implying a 2.8% downside potential.
Contrasts with Quant rating of Very Bullish.
Before this action, Sell-Side average rating was Outperform (7 Buy, 6 Outperform, 3 Hold.)
In the past six months, Blackstone has risen 53% vs. financial sector median performance of 1.3% during that same period.
Now read: Square -1.5% as Evercore cuts again »
Subscribe for full text news in your inbox