Blackstone Considers Expanding Investment in Oracle's Data Center Project
Written by Emily J. Thompson, Senior Investment Analyst
Blackstone (BX) is weighing expanding its financial commitment to Oracle's (ORCL) data center project in Michigan even as other investors have bristled at the potential risks of such an endeavor, Bloomberg's Preeti Singh, Dawn Lim, and Paula Seligson report. The alternative asset manager, which was already in discussions to provide equity capital, is also considering a debt investment to help shore up the project's financing, the authors say, citing people familiar with the mater. Bank of America (BAC) is spearheading a push to raise debt for the site, with an initial goal of $14B, the authors note. Shares of Blackstone are down 1.3% after the news.
Analyst Views on BX
Wall Street analysts forecast BX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BX is 176.60 USD with a low forecast of 166.00 USD and a high forecast of 205.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
5 Buy
7 Hold
0 Sell
Moderate Buy
Current: 148.410
Low
166.00
Averages
176.60
High
205.00
Current: 148.410
Low
166.00
Averages
176.60
High
205.00
About BX
Blackstone Inc. is an alternative asset manager. Its asset management includes global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds. Its Real Estate segment comprises its management of opportunistic real estate funds, Core+ real estate funds, and real estate debt strategies. Its Private Equity segment includes its management of flagship Corporate Private Equity funds, sector and geographically focused Corporate Private Equity funds, core private equity funds, an investment platform, and others. Its Credit & Insurance segment consists of Blackstone Credit & Insurance, which is organized into three overarching strategies: private corporate credit, liquid corporate credit and infrastructure and asset-based credit. Its Multi-Asset Investing segment is organized into four investment platforms: Absolute Return, Multi-Strategy, Total Portfolio Management, and Public Real Assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
