Ares Management jumps as brokerages raise PT
ARES•Brokerage target changes
| Brokerage | New PT | Old PT |
|---|---|---|
| RBC | $168 | $162 |
| TD Cowen | $155 | $153 |
| BMO | $134 | $128 |
| Oppenheimer | $151 | $140 |
| J.P. Morgan | $153 | $143 |
| Deutsche Bank | $144 | $140 |
Shares rise after multiple target increases
** Private credit leader Ares Management's ARES.N shares jump 5.4%, hitting their highest since June 17
** At least six brokerages raise PT on ARES following Q2 results
** ARES reported record fundraising of $36 billion in Q2 despite key flagship fund series not being in-market
Analysts cite strong fundraising and execution
** "Ares reported good results that reflected a more institutional customer base that continues to trust Ares and give the company more investment dollars," J.P. Morgan analyst Kenneth Worthington says
** JPM raised ARES estimates slightly for 2027, reflecting somewhat higher fundraising, driven by certain key funds in-market reaching their fundraising hard caps
** "We remain buyers of the stock. While markets have yet to fully normalize, conditions are moving in the right direction and the company continues to execute," Oppenheimer analyst Chris Kotowski says
** As of last close, ARES stock down 20.8% YTD
