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Fly News Breaks for February 3, 2020
Feb 3, 2020 | 09:30 EDT
Barclays analyst Jeremy Campbell upgraded KKR to Overweight from Equal Weight with a price target of $37, up from $31. KKR's balance sheet strategy and the capital markets business make the company pro-cyclical and the "strong compounding is hard to ignore," Campbell tells investors in a research note. Further, he believes capital markets should grow over time as banks cede some share to the KKR platform and the geographic footprint expands. The analyst also expects fee revenues to continue to compound as KKR raises capital.
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