Blackstone announces $63 billion Broadcom financing deal after muted trading session

Blackstone announces $63 billion Broadcom financing deal after muted trading session
Blackstone stock edges higher to $119.06

Blackstone announced a landmark $63 billion financing deal with Broadcom and a consortium of major banks. The stock edges higher on the day, trading at $119.06.

BX price prediction
24H 0.32%
$120.54
48H -0.12%
$120.01
7D -1.23%
$118.68
1M 4%
$124.97
3M 14.21%
$137.23
6M -17.78%
$98.8
12M -19.27%
$97.01
Current price: $120.16 1.62 1.37%
Closed 11/02
Daily range 117.80 Arrow from to Icon 122.53
Weekly range 116.22 Arrow from to Icon 120.85
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Highlights

  • Blackstone announced a $63 billion financing deal with Broadcom, Bank of America, Citi, and Morgan Stanley.
  • Fifty of ninety-three analysts rate Blackstone stock a buy, with a median price target of $138.
  • Blackstone stock edges higher on the day, trading at $119.06.

Blackstone announced a $63 billion financing deal involving Broadcom, Bank of America, Citi, and Morgan Stanley. The company operates in asset management and has a market value near $136.61 billion. Fifty of ninety-three analysts rate the stock a buy with a median price target about 15.9% higher than the current level.

Upside constrained as price tests support and momentum peaks

Price is sitting right at support from the prior weekly high at $118.74, which is a key pivot. Shares hold a split daily structure, trading below the MA-50 and MA-200 but above the MA-20. Stoch RSI is in overbought territory, a stretched reading that limits room for further upside.

Odds tilt downside as new high meets persistent negative trend

To gauge whether the event is being priced in, traders should track price action at $118.74. Shares pushed through the weekly high at $118.74 and are now setting a new high for the week. The probability of further gains over the coming trading week is 36%, while the chance of a downside move is 64%, and the expected trading range is $113.56 to $124.55. Even so, this comes after a sustained move higher with a firm trend over the past week. A close above $125.04 would show buyers are willing to follow through, while a drop back below $118.74 would indicate the move is being faded. On the weekly chart the longer-term picture stays firmly negative.

Previously it was reported that Blackstone’s oversubscribed BX Energy Transition Partners V fund raised concerns over continued downside risk despite positive fundraising activity. The announcement of the $63 billion Broadcom financing adds a new dimension to Blackstone’s profile, with traders advised to monitor whether shares can sustain momentum above the key $118.74 pivot amid a still-negative longer-term outlook.

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