NEW YORK (TheStreet) -- Blackstone Group (BX) shares are up 1% to $33.48 in early market trading on Thursday after the asset management firm was started with an "overweight" rating by analysts at Barclays earlier today.
Analysts at Barclays believe that Blackstone is better positioned than many of its peers to excel in the asset management business.
The firm also set a $39 price target on the company's stock, suggesting a potential 16.5% upside from the stock's current level. The stock has a 52-week low of $26.56 compared to a high of $36.08.
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TheStreet Ratings team rates BLACKSTONE GROUP LP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLACKSTONE GROUP LP (BX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: