Wells Fargo analyst Christopher Harris raised his price targets for all five of the alternative asset manager stocks under his coverage on a roll forward of base year for valuation purposes from 2020 to 2021. The new targets imply double-digit percentage upside potential for each of the Overweight-rated names, Blackstone (BX), KKR (KKR), Apollo Global (APO) and Ares Management (ARES), and the greatest targeted upside for top pick Ares, Harris tells investors in a research note. The analyst remains bullish on this group, saying valuations are not excessive given the organic growth, fundamentals are attractive, and the benefits of C-Corp conversions likely are not yet fully played out. Harris raised his price target for Apollo to $53 from $50, for Ares to $45 from $38, for KKR to $36 from $33, for Blackstone to $64 from $64 and for Equal Weight-rated Hamilton Lane (HLNE) to $62 from $60.

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Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Paramount (PARA)... To see the rest of the story go to thefly.com. See Story Here

TD Cowen lowered the firm's price target on Blackstone to $114 from $117 and keeps a Hold rating on the shares. The firm reduced their estimates to reflect slower realizations and lower NII.

Sony Pictures (SONY) and Apollo Global (APO) have been in talks over partnering for a joint offer to buy Paramount (PARA), the New York Times' Benjamin Mullin and Lauren Hirsch report, citing two people familiar with the matter. The two companies have not submitted an official bid, as the CBS parent is still in exclusive discussions with Skydance over a potential deal, the authors say, noting the potential Skydance pact has drawn significant pushback from shareholders. Reference Link

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Notable companies reporting before tomorrow's open, with earnings consensus, include Blackstone (BX), consensus 96c... Elevance Health (ELV), consensus $10.53... D.R. Horton (DHI), consensus $3.06... Genuine Parts (GPC), consensus $2.16... Snap-on (SNA), consensus $4.64... Keycorp (KEY), consensus 22c... Ally Financial (ALLY), consensus 33c... Alaska Air (ALK), consensus ($1.05).