RBC Capital analyst Kenneth Lee maintains $Ares Management (ARES.US)$ with a buy rating, and adjusts the target price from $150 to $170.
According to TipRanks data, the analyst has a success rate of 68.9% and a total average return of 17.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Ares Management (ARES.US)$'s main analysts recently are as follows:
The revitalization of capital markets appears to be progressing well, setting the stage for a renewed acceleration in the private markets sector. Although the conversion of deal pipelines into actual deals is taking more time than anticipated because of a decrease in exit activities leading to reduced projections for Q3, there is an anticipation of management commentary and future perspectives to bolster the stocks.
Expectations for the third-quarter results for U.S. Asset Managers suggest that the sector's fixed income organic growth likely saw sequential improvement. An analysis of industry data indicates that net flows into fixed income remained positive throughout the months of the year to date. The substantial market appreciation observed in the quarter also implies that asset managers may experience margin benefits due to operating leverage.
The firm increased its valuation following a deeper examination of the company's significant acquisition which enhances its franchise and introduces multiple vectors for growth.
Note:
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