TMCnet News
Upgrade Alert for Blackstone (BX)May 23, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Blackstone (NYSE:BX) was upgraded from Neutral to Buy at Sterne Agee today. The stock closed yesterday at $11.99 on volume of 6.3 million shares, above average daily volume of 5.0 million. Blackstone has overhead space with shares priced $11.99, or 33.9% below the average consensus analyst price target of $18.15. Blackstone shares should first meet resistance at the 50-day moving average (MA) of $14.10 and find additional resistance at the 200-day MA of $14.12. The Blackstone Group LP is a global alternative asset manager and provider of financial advisory services. The firm's asset management businesses include the management of corporate private equity funds, real estate funds, mezzanine funds, proprietary hedge funds and closed-end mutual funds. Blackstone also provides M&A and reorganization advisory, as well as private placement services. In the past 52 weeks, shares of Blackstone have traded between a low of $10.51 and a high of $17.78 and closed yesterday at $11.99, which is 14% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.4%. SmarTrend recommended that its subscribers protect gains by selling shares of Blackstone on March 5th, 2012 by issuing a Downtrend alert when the shares were trading at $15.17. Since that call, shares of Blackstone have fallen 20.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |