Blackstone Inc

BX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$376.00	Nmkdhf	Zbklzcvk

Blackstone Holds Up Fairly Well in the Face of the Equity and Credit Market Dislocation During 2022

Greggory Warren

Jan 26, 2023

While there was little in narrow-moat Blackstone's fourth-quarter results that would alter our long-term view of the firm, we are likely to reduce our fair value estimate slightly to adjust for weaker flows in the near term than we had been previously projecting. We view Blackstone as being moderately undervalued relative to our revised fair value estimate.

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