|Day's Range||26.33 - 26.98|
|52 Week Range||14.25 - 27.78|
|PE Ratio (TTM)||8.86|
|Dividend & Yield||1.96 (7.51%)|
|1y Target Est||N/A|
Apollo and KKR settle litigation involving debt-collection firm.
The private equity firm’s stock surged 6.6% to $31.85 after news broke over the weekend that Saudi Arabia Public Investment Fund has agreed to fork over $20 billion to seed a new infrastructure fund. Blackstone is the latest player to join the global push by big investors to buy airports, pipelines and other public projects, particularly in the U.S. JMP analyst Devin Ryan, who rates the stock market outperform, “is constructive on the deal for a number of reasons,” among them the face the deal highlights Blackstone ability to innovate and buck consensus, which fears that the company is too big to grow. In fact, a back-of-the envelope SOTP analysts shows the infrastructure fund could account for $4 of shareholder value creations, Ryan says.
Analysts gave KKR an average target price of $21.42 from the current price, suggesting a rise of 14.3%.