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phil
April 9th, 2014 at 10:38 am
Buy the dip in P-E names says Sterne Agee
10:27 AM ET · BX
• Blackstone (BX +1.4%) is analyst Jason Weyeneth’s favorite ahead of earnings season, even as his Q1 ENI estimate ot $0.54 per share is about $0.14 below consensus. Other buy-rated names are Apollo Global (APO) and KKR (KKR +1.1%).
• The stock prices of each are off between 8-15% from their highs last month, with Weyeneth noting a number of factors – regulatory scrutiny, profit-taking, concerns volatility will keep a cap on realizations, overhang from a likely near-term APO offering, and technical pressure on KKR from the KFN deal – but nothing too concrete.
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