TD Cowen analyst William Katz maintains $Ares Management (ARES.US)$ with a buy rating, and adjusts the target price from $175 to $187.
According to TipRanks data, the analyst has a success rate of 64.6% and a total average return of 12.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Ares Management (ARES.US)$'s main analysts recently are as follows:
Post-Q3 results, expectations for Ares Management's fee-related earnings margin are undergoing a revision, with a newfound understanding of the supplementary distribution fees and continuous investments. Additionally, there is an increased recognition of the potential resilience in Ares's fundraising efforts.
The firm believes the optimistic scenario for Ares Management continues to hold strong, with the company maintaining or exceeding progress on 28 key performance indicators as outlined during its recent investor day.
The firm's sentiment on Ares Management has improved, prompting an adjustment of the expected valuation. This adjustment comes despite the shares underperforming on November 1 due to a softer than anticipated third quarter, along with persistent worries regarding margins and the expenses associated with wealth distribution. Nonetheless, a positive aspect was identified in the robust fundraising efforts and an uptick in deployment.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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