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Why Did Blackstone Plunge 5.7%? Bank of America Cuts Target Price
Generated by AI AgentAinvest Movers Radar
Monday, Apr 7, 2025 6:19 am ET1min read
On April 7, 2025, Blackstone's stock experienced a significant drop of 5.7% in pre-market trading, reflecting a notable decline in investor sentiment.
Bank of America recently adjusted its target price for
shares, lowering it from $219.00 to $207.00 while maintaining a "buy" rating. This adjustment suggests a cautious outlook on the company's near-term performance.Blackstone's decision to pause the initial public offering (IPO) of Cirsa mirrors broader market caution, indicating a general hesitancy among equity investors. This move underscores the current market volatility and the challenges faced by companies seeking to raise capital through public offerings.
Landscape Capital Management L.L.C. reduced its stake in Blackstone by 32.1% during the fourth quarter, signaling a potential shift in investment strategy or concerns about the company's future prospects.
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