BX Rises on Data Center Optimism, $120 Breakout in Sight
$Blackstone Group LP(BX)$
$Blackstone Inc. (BX) Rallies +2.43%: Defying Sector Gloom, Eyes $120 Resistance 🚀
Latest Close Data 📊
Closed at $117.67 on 2026-07-01, up +2.43% (+$2.79). This marks a significant rebound, now trading ~38% below its 52-week high of $190.09.
Core Market Drivers ⚙️
The stock is defying recent sector-wide weakness. Key drivers include:
1) A major $3.5B data center stake sale to Digital Realty, showcasing strategic asset monetization.
2) Persistent but contained private credit fund redemption pressures (e.g., BCRED fund capped at 5%), which have weighed on the broader alternative asset manager sector.
Technical Analysis 📈
-
Volume of 7.37M shares (~1.20x ratio) confirms the bullish move.
-
The latest RSI(6) reading of 48.65 has moved out of oversold territory (<30), signaling weakening selling momentum.
-
However, MACD remains negative, with DIF at -0.72 and DEA at -0.09, indicating the broader downtrend is still in place but a potential bullish crossover is forming.
Key Price Levels 🎯
-
Primary Support: $110.79 (Recent swing low, crucial for the uptrend).
-
Strong Resistance: $127.73 (Key level to watch for a sustained reversal).
-
Immediate Pivot: $117.75 (Today's evening session high; a close above is bullish).
Valuation Perspective 💰 Forward P/E stands at 19.29, significantly below its historical average of 27.80 and the -1 Std. Dev. of 21.81. This suggests the stock is currently undervalued relative to its own historical earnings multiple.
Analyst Targets 🎯 Analyst sentiment remains positive. 21 analysts have an average price target of $147.29 (upside of ~25%). The consensus recommendation is Buy, with 4 Strong Buys, 11 Buys, and 10 Holds.
Weekly Outlook 🔮 Expect consolidation between $115 - $120. A decisive break above the $120 pivot could target $127.73 resistance. Conversely, a fall below $110.79 support could see a retest of the $105 zone.
Risk Disclaimer: This analysis is for informational purposes only and not investment advice. Past performance does not guarantee future results. The financial markets involve risk; please conduct your own research or consult a professional before making any investment decisions. 📉
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.
