RBC Ups Price Target on Blackstone to $169.00

Royal Bank of Canada (RBC) has upgraded its price target for Blackstone (NYSE:BX) to $169.00 from $161.00, indicating a potential upside of 34.30% from the company's previous close.

The firm currently holds an 'outperform' rating on Blackstone's stock and is one of thirteen research analysts who have rated the stock with a buy rating.

Blackstone reported quarterly earnings of $1.52 per share, exceeding analyst estimates by 18 cents, while revenue jumped 35.9% year-over-year to $5.04 billion.

The company's assets under management (AUM) hit a record $1.35 trillion in the quarter, and Blackstone highlighted strategic expansion in AI and infrastructure investments.