UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Blackstone Group

In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Blackstone Group (NYSE: BX), and raised its price target from $18.00 to $19.50.

Jefferies noted, “Both the traditional and alternative asset managers will begin reporting 4Q earnings next week, with BLK kicking things off on Wed, Jan 16th. Our numbers move modestly higher, mostly due to int'l equity market gains and an improved outlook for performance fees. We see AMG and BLK as relative positive stand-outs in terms of organic growth in the period.”

Blackstone Group closed on Tuesday at $16.68.