Blackstone Group (BX) Stock Forecast & Price Target

Blackstone's substantial total assets under management (AUM) of $1.242 trillion, with $906.2 billion in fee-earning AUM as of September 2025, underscores its dominance as the largest alternative-asset manager globally. The company's diverse revenue streams and anticipated earnings expansion, particularly in the real estate segment, reflect a positive trajectory driven by cyclical recovery and increased peer multiples, with projected 20% year-over-year growth in free cash flow and distributable earnings into 2026. Furthermore, the firm’s leadership position in the alternatives space, coupled with a robust forward IPO pipeline, positions Blackstone favorably for capitalizing on significant growth opportunities in the burgeoning $12 trillion 401(k) market.

Blackstone reported strong financial results in the third quarter of 2025, yet the stock experienced a decline of 4%, attributed to concerns over a projected decrease in transaction and advisory fee revenues for the fourth quarter. Expectations indicate a decline in FRE margins from 59.3% in Q3 2025 and a slowdown in the growth of management fees, which are anticipated to fall from the previously recorded 14% growth rate. Additionally, any downturn in the operating environment or capital markets could significantly negatively affect Blackstone's overall business performance and financial outcomes.