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KKR

KKR

$29.97

0.02 (0.07%)

05:42
01/13/20
01/13
05:42
01/13/20
05:42

KKR downgraded to Market Perform from Outperform at JMP Securities

JMP Securities analyst Devin Ryan downgraded KKR to Market Perform from Outperform.

  • 26

    Feb

KKR KKR
$29.97

0.02 (0.07%)

10/07/19
BMOC
10/07/19
INITIATION
BMOC
KKR, Victory Capital, Apollo Global top BMO Capital picks among asset managers
BMO Capital analyst James Fotheringham initiated 11 U.S. asset managers, selecting KKR (KKR), Victory Capital (VCTR), and Apollo Global (APO) as his "top picks" with Outperform ratings and respective price targets of $40, $33, and $52 per share. The analyst believes that investors are undervaluing KKR's performance fees reliability and also have yet to appropriately value its "meaningful" excess capital. Instead, Fotheringham believes that investors are too worried about the risks of recession and KKR's relatively larger balance sheet. For Victory Global, the analyst believes that the market is overly concerned with its balance sheet leverage and believes that the company's organic growth will outperform expectations because of its exposure to to higher-growth segments like ETF products and solutions-seeking investors. For Apollo Global, Fotheringham notes that investors are undervaluing its accelerating Fee Related Earnings growth and expects the stock to benefit from technical support related to "improved liquidity, broadened shareholder engagement, and index inclusions." As part of his research note, the analyst also started the following at Market Perform: Ares Management (ARES) with price target $31, Invesco (IVZ) with price target $18, Blackrock (BLK) with price target $44, AssetMark (AMK) with price target $24, Blackstone (BX) with price target of $44, Carlyle Group (CG) with price target of $23, and T. Rowe Price (TROW) with price target of $101. Fotheringham also initiated Franklin Resources (BEN) at Underperform with price target of $16, saying the market is overvaluing its management-fee related income amid continued outflows and magnified redemption risk as well as operating expense "inflexibility". The analyst warns that Franklin's U.S. and European retail channels are facing ongoing fee pressures and risk from active-to-passive rotation.
10/14/19
BOFA
10/14/19
DOWNGRADE
Target $52
BOFA
Neutral
BofA gets more selective in alternative asset managers, downgrades Blackstone
BofA Merrill Lynch analyst Michael Carrier downgraded Blackstone (BX) to Neutral from Buy with a price target of $52, down from $54, stating that he is getting a bit more selective within the alternative asset managers sector since valuation multiples have moved higher so far this year while estimates have moved lower. Despite his view that the firm is structurally very well positioned over the long-term, he sees more modest upside for the stock from here and prefers others with a higher portion of fee related earnings of that have upcoming fundraising catalysts, Carrier tells investors. To reflect a more typical level of fundraising ahead and the potential for slightly lower than expected realizations if geopolitical risks linger, Carrier also trimmed his price target for Ares Management (ARES) to $31 from $32 and lowered his target for target for KKR (KKR) shares to $31 from $32.
11/01/19
11/01/19
NO CHANGE

Rice University-Jones Graduate School of Business to hold a summit
Rice Energy Finance Summit will be held in Houston on November 1.
12/19/19
WELS
12/19/19
NO CHANGE
WELS
Overweight
Wells stays bullish on alternative asset managers into 2020, Ares top pick
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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MDC

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CMA

Comerica

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0.19 (0.29%)

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AAOI

Applied Optoelectronics

$14.23

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PG

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LUV

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KEY

KeyCorp

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TXN

Texas Instruments

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2.81 (2.15%)

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Kinder Morgan

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KMI

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CTXS

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TER

Teradyne

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PTC

PTC

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STLD

Steel Dynamics

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SLM

Sallie Mae

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XOM

Exxon Mobil

$67.01

-0.58 (-0.86%)

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  • 31

    Jan

CHEOY

Cochlear

$0.00

(0.00%)

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Cochlear rating change  »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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SPG

Simon Property

$146.15

-2.96 (-1.99%)

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  • 04

    Feb

FCEL

FuelCell

$2.15

-0.725 (-25.26%)

, PKX

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$51.39

-0.15 (-0.29%)

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FCEL

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$2.15

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PKX

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NK

NantKwest

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-0.32 (-5.11%)

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NK

NantKwest

$5.90

-0.36 (-5.75%)

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NTRP

Neurotrope

$2.73

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FB

Facebook

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, TWTR

Twitter

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MPLX

MPLX

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  • 29

    Jan

BA

Boeing

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-2.37 (-0.76%)

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  • 29

    Jan

CNCE

Concert Pharmaceuticals

$10.86

1.04 (10.59%)

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Concert Pharmaceuticals analyst commentary  »

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BA

Boeing

$311.75

-1.56 (-0.50%)

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  • 29

    Jan

TEVA

Teva

$10.53

0.505 (5.04%)

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  • 22

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  • 09

    Mar

CNCE

Concert Pharmaceuticals

$10.37

0.55 (5.60%)

13:53
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EAF

GrafTech

$13.00

0.61 (4.92%)

13:45
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Options
GrafTech call volume above normal and directionally bullish »

Bullish option flow…

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  • 06

    Feb

MSFT

Microsoft

$166.62

0.14 (0.08%)

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