UPDATE: Jefferies Raises PT on Blackstone Group to $21 (BX)

Jefferies is out with its report today on Blackstone Group BX, raising its PT from $20 to $21. In a note to clients, Jefferies writes, "BX will report earnings on Thursday, April 21. We believe core trends across its portfolio should continue to exhibit strength while real estate valuations stand to drive upside to performance fees. We are raising our 1Q11 ENI estimate by $0.02 and inreasing our price target to $21 (from $20)." Jefferies maintains Buy on BX. Shares of BX closed Friday at $18.58, up 1.20% from Thursday's close.