Blackstone Inc. (NYSE: BX) has had a volatile year as higher interest rates and slower deal activity weighed on private markets. The stock trades near $146/share, down about 20% over the past year. Despite the pullback, analysts still view Blackstone as a high-quality compounder supported by its expanding fee base and record assets under management.
Recently, Blackstone reported third-quarter results that topped expectations, driven by solid growth in fee-related earnings and continued investor demand for private credit and infrastructure. The firm also announced the launch of new real estate and infrastructure funds, signaling confidence in long-term secular growth opportunities despite tighter financing conditions. These developments suggest Blackstone’s diversified platform remains well-positioned to benefit once markets normalize.
This article explores where Wall Street analysts think Blackstone could trade by 2027. We have pulled together consensus price targets and TIKR’s Guided Valuation Model to outline the stock’s potential path. These figures reflect analyst assumptions and are not TIKR’s own forecasts.
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Analyst Price Targets Suggest Modest Upside
Blackstone trades at about $146/share today. The average analyst price target is $180/share, which points to roughly 24% upside over the next year. Forecasts show a moderate range:
- High estimate: ~$215/share
- Low estimate: ~$165/share
- Median target: ~$175/share
- Ratings: 8 Buys, 3 Outperforms, 11 Holds
It looks like analysts see room for gains, though conviction remains cautious. For investors, this means sentiment is positive but measured. The stock’s next move will likely depend on how quickly fundraising and deal activity pick up as financial conditions improve.
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Blackstone: Growth Outlook and Valuation
Blackstone’s fundamentals remain solid, supported by a strong fee base and growing exposure to private credit and infrastructure.
- Revenue is forecast to grow ~19% annually through 2027
- Operating margins are expected to stay near ~54%
- Shares trade at ~24× forward earnings
- Based on analysts’ average estimates, TIKR’s Guided Valuation Model using a 23.7× forward P/E suggests ~$228/share by 2027
- That implies about 56% total return, or roughly 23% annualized
For investors, these numbers show that Blackstone could deliver meaningful compounding if earnings and fundraising momentum continue. The stock still trades below its historical premium, leaving room for valuation recovery as sentiment toward private markets improves.
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What’s Driving the Optimism?
Blackstone’s scale and diversification continue to set it apart from most financial peers. Its fee-based model provides consistent income, while newer growth engines in private credit, infrastructure, and secondaries expand its opportunity set. Fundraising activity remains steady, and the firm has more than $200 billion in dry powder ready to deploy once deal activity picks up.
Management’s focus on long-duration capital also supports long-term earnings visibility. For investors, this means Blackstone is not simply riding market cycles but actively shaping them, a key advantage that could help sustain growth even in a slower macro environment.
Bear Case: Market Sensitivity and Valuation
Even with these strengths, near-term risks are tied to the macro backdrop. If interest rates remain high for longer, asset sales could slow and performance fees may stay muted. Shares also trade near 24× forward earnings, which is toward the upper end of Blackstone’s historical range.
For investors, that means expectations are already leaning optimistic. Any setback in capital deployment or fundraising could pressure the multiple and keep returns below potential until broader liquidity conditions improve.
Outlook for 2027: What Could Blackstone Be Worth?
Based on analysts’ average estimates, TIKR’s Guided Valuation Model using a 23.7× forward P/E suggests Blackstone could trade near $228/share by 2027. That represents about 56% total upside, or roughly 23% annualized returns.
While this scenario assumes a favorable market recovery, it also reflects Blackstone’s ability to compound fee-related earnings at a high rate. If fundraising momentum accelerates and interest rates normalize, upside could extend beyond current estimates.
For investors, the takeaway is clear: Blackstone’s scale, diversification, and strong balance sheet make it one of the most resilient ways to participate in the long-term growth of alternative assets.
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