Blackstone is upgraded on recession readiness despite jitters around real estate fund

Blackstone is upgraded on recession readiness despite jitters around real estate fund

JPMorgan analyst Ken Worthington has upgraded private equity giant Blackstone to overweight from neutral as the company rolls out new products for wealthy individuals and grows its fee income despite a slowing economy. Blackstone stock rose 1.6% in premarket trades Tuesday. As of Monday’s close, the stock was up 18.4% in 2023, compared to a 4.7% gain in the S&P 500. “We...