🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Blackstone S&P 500 inclusion 'in sight' - Morgan Stanley

Published 04/19/2023, 01:29 PM
Updated 04/19/2023, 01:34 PM
© Reuters.  Blackstone (BX) S&P 500 inclusion 'in sight' - Morgan Stanley
US500
-
BX
-
SPSUPX
-

By Sam Boughedda

Morgan Stanley said in a note Wednesday that Blackstone's (NYSE:BX) S&P 500 inclusion is in sight after the S&P Dow Jones announced changes to their Share Class Eligibility Rules for the S&P indices.

In a short memo, the analysts explained that the results of the review state that all companies with multiple share class structures are now considered eligible candidates for addition to the S&P Composite 1500 and its component indices, provided they meet other eligibility criteria.

As a result, Blackstone is now newly eligible for the S&P 500 index and is among the largest Mega Cap names that currently pass all other S&P 500 index eligibility criteria, said the analysts.

Overweight-rated Blackstone was previously kept out of the index due to the multi-share class rule. "We view this as a positive catalyst for BX to expand the investor base and support a re-rating," the analysts wrote.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.