Blackstone Group LP (BX) shares plummeted 5.04% during Tuesday's trading session, as several prominent Wall Street analysts slashed their price targets for the alternative asset management giant. The sharp decline comes amid broader market volatility and concerns about the impact of recent geopolitical events on private equity and credit markets.

Deutsche Bank, Citigroup, and Wells Fargo all lowered their price targets for Blackstone stock. Deutsche Bank adjusted its target to $161 from $194, while maintaining a Buy rating. Citigroup cut its target more aggressively to $137 from $190, and Wells Fargo reduced its target to $139 from $160, maintaining an Equalweight rating. These downgrades reflect growing caution among analysts regarding Blackstone's near-term prospects.

The sell-off in Blackstone shares appears to be part of a broader trend affecting alternative asset managers. Industry peers such as Apollo Global Management, Blue Owl Capital, Ares Management, and KKR & Co. have also experienced significant declines in recent days. Investors are concerned that potential economic headwinds, including the impact of new tariffs, could lead to widening credit spreads, loan losses, and reduced opportunities for private equity firms to exit investments profitably. Despite these short-term challenges, some analysts believe the reaction may be overdone, as the long-term growth outlook for the alternative asset management industry remains positive.