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ARES

Ares Management

$22.30

0.7 (3.24%)

17:02
09/18/18
09/18
17:02
09/18/18
17:02

Ares Management and Starwood Energy sign agreement to sell interest in HTP

Ares EIF, the power and infrastructure strategy at Ares Management, and Starwood Energy Group Global announced that they have signed an agreement to sell their respective interests in Hudson Transmission Partners, or HTP, to an investment vehicle managed by Argo Infrastructure Partners. Financial details were not disclosed. A subsidiary of PowerBridge of Fairfield the developer of the project, will continue to operate and maintain the asset on behalf of Argo Infrastructure and other stakeholders. The transaction is subject to customary regulatory approvals and is expected to close later in 2018 or in early 2019. HTP is a joint venture formed solely to develop, construct, operate and maintain the Hudson Transmission Project, a 660 MW High Voltage Direct Current electric transmission system connecting the PSEG-North zone of the PJM Interconnection to the New York Independent System Operator Zone J power market via a subsea cable beneath the Hudson River.

ARES Ares Management
$22.30

0.7 (3.24%)

05/01/18
05/01/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Apple (AAPL) initiated with a Buy at DA Davidson. 2. Spotify (SPOT) initiated with a Neutral at Buckingham. 3. Ares Management (ARES) initiated with an Outperform at Oppenheimer. 4. GTT Communications (GTT) initiated with an Outperform at Raymond James. 5. Electronic Arts (EA) was initiated with an Overweight at JPMorgan while Activision Blizzard (ATVI) was initiated with a Neutral. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/28/18
JEFF
06/28/18
INITIATION
Target $26
JEFF
Buy
Ares Management initiated with a Buy at Jefferies
Jefferies analyst Gerald O'Hara started Ares Management with a Buy rating and $26 price target. The company continues to scale at a double-digit organic rate while steadily building out an increasingly diversified product set, O'Hara tells investors in a research note. He believes Ares is well positioned to deliver a "consistent all-weather return stream behind its $50B core direct lending credit franchise."
08/21/18
WELS
08/21/18
UPGRADE
WELS
Outperform
Ares Management upgraded to Outperform from Market Perform at Wells Fargo
08/21/18
08/21/18
UPGRADE
Target $25

Outperform
Ares Management upgraded to Outperform on underappreciated fee ramp-up at Wells Fargo
As previously reported, Wells Fargo analyst Christopher Harris upgraded Ares Management to Outperform from Market Perform and raised his price target on the shares to $25 from $24. The analyst sees several positive potential catalysts for the stock including significant fee earnings ramp through 2020, resumption of asset growth at the ARCC affiliate and the planned conversion to a C-Corp structure by year end.

TODAY'S FREE FLY STORIES

WES

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Western Gas Equity

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0.2 (0.62%)

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PXD

Pioneer Natural

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ZTS

Zoetis

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JNJ

Johnson & Johnson

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WIN

Windstream

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, UNIT

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BHVN

Biohaven Pharmaceutical

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AMGN

Amgen

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CE

Celanese

$100.19

1.19 (1.20%)

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WIN

Windstream

$3.37

0.2 (6.31%)

, UNIT

Uniti Group

$20.00

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  • 25

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GLD

SPDR Gold Shares

$124.81

0.77 (0.62%)

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MDLZ

Mondelez

$48.17

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FN

Fabrinet

$55.23

0.67 (1.23%)

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UBER

Uber

$0.00

(0.00%)

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SPX

S&P 500

$0.00

(0.00%)

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SPDR S&P 500 ETF Trust

$277.40

2.93 (1.07%)

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$0.00

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SPDR S&P 500 ETF Trust

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ORCL

Oracle

$51.71

0.25 (0.49%)

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SBLK

Star Bulk Carriers

$8.21

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HOLI

Hollysys

$20.56

0.26 (1.28%)

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AKS

AK Steel

$2.98

-0.015 (-0.50%)

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LPTX

Leap Therapeutics

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MPB

Mid Penn Bancorp

$23.25

-0.24 (-1.02%)

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REGN

Regeneron

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UPS

UPS

$110.89

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DAL

Delta Air Lines

$51.09

0.58 (1.15%)

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UPS

UPS

$110.89

-0.91 (-0.81%)

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