$BX Reclaims $122, Bulls Target the $145 Zone
$Blackstone Group LP(BX)$
Blackstone (BX) Jumps +2.98%: Giant Reclaims $122 Amid Record Credit Deal Momentum
Latest Close Data 📈
Closed at $122.15 on July 10, up +2.98% ($3.53). This brings it within ~35.7% of its 52-week high of $190.09.
Core Market Drivers 🏗️
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Positive sentiment fueled by news of a historic $35 billion private credit deal (arranged with Apollo), with ~$15B expected to trade in secondary markets soon.
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This activity helps counterbalance recent negative headlines, including a major data center project termination and analyst price target downgrades.
Technical Analysis 📊
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Volume: Trading volume of 4.33M shares shows active participation (Volume Ratio: 1.12).
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RSI (6-period): At 58.43, it's in neutral territory, moving up from oversold levels (<45) earlier in the week, indicating rebounding momentum.
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MACD: The DIF (0.354) has crossed above the DEA (0.084), generating a bullish crossover signal with a positive MACD histogram (0.540).
Key Price Levels 🎯
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Immediate Pivot: $122.15 (Today's close). Holding above is key for continuation.
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Primary Support: $112.93 (Recent swing low). A break below could signal renewed weakness.
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Strong Resistance: $131.00. A decisive break above could target the $145+ analyst consensus area.
Valuation Perspective 💰
Forward P/E sits at 19.96, significantly below its historical average of 27.77 and the -1 standard deviation level of 21.74, suggesting the stock may be undervalued relative to its own history.
Analyst Targets 🎯
Coverage from 25 analysts shows a Bullish consensus: 4 Strong Buy, 11 Buy, 10 Hold. The average price target is $145.62, implying a ~19.2% upside from current levels.
Weekly Outlook 🔮
Expect consolidation between $118 - $131 in the near term. A sustained break above $131 could propel the stock toward the $145-$150 zone. A drop below $112.93 support would invalidate the short-term bullish structure.
Risk Disclaimer ⚠️
This analysis is for informational purposes only and not financial advice. Past performance does not guarantee future results. Investing involves risk, including potential loss of principal. Always conduct your own research.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
