Bank of America Raises Apollo Global Management Price Target to $167, RBC Initiates $142 Target
Bank of America raised its Apollo Global Management price target to $167 from $161 and RBC initiated coverage with a Sector Perform rating and $142 target. Apollo-managed funds committed $1.0 billion to Aldar Properties subordinated hybrid notes, marking the fifth such deal and boosting total Aldar investments to $2.9 billion.
1. Price Target Hike and EPS Revision
On February 24, Bank of America increased its Apollo Global Management price target by $6 to $167 while maintaining a Buy rating. The firm cited upgraded EPS estimates across its coverage universe following recent broker, asset manager and exchange earnings.
2. RBC Coverage Initiation
On February 23, RBC initiated coverage of Apollo Global Management with a Sector Perform rating and a $142 price target, highlighting that current valuation and consensus forecasts already reflect accelerating earnings growth.
3. Aldar Investment
On February 20, Apollo-managed funds invested $1.0 billion in subordinated hybrid notes issued by Aldar Properties PJSC. This marks the fifth such commitment since 2022, bringing total Aldar investments to $2.9 billion and reinforcing the strategic UAE real estate partnership.