Argus analyst Stephen Biggar raised his price target on Blackstone to $72 and kept his Buy rating after its Q4 earnings beat, saying the company also benefited from a "more favorable environment" for realization while its fee-based earnings also continued to expand. The analyst adds that the company's conversion from a partnership to a corporation will also support Blackstone shares by allowing the stock to be included in a wider range of indices.

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A fund backed by private-equity firm Blackstone (BX) has purchased the rights to Justin Timberlake's song catalog in a deal that people familiar with the matter said is valued at just above $100M, reported The Wall Street Journal's Anne Steele and Miriam Gottfried. Terms of the deal, done in partnership with music-investment company Hipgnosis Song Management (HPGSF), weren't disclosed, but it appears to be the venture's largest music-rights acquisition so far, the report said. Reference Link