TD Cowen raised its price target on Ares Management from $144 to $153 while reiterating a Buy rating. The adjustment follows meetings with management and reflects an updated model accounting for the treatment of X-Energy. Ares Management reported weaker-than-expected first-quarter earnings but saw assets under management growth exceed estimates, with credit quality remaining healthy. The firm raised $30 billion of gross capital in the first quarter and remains on track for another record fundraising year.
Ares Management LPTD Cowen raised price target and reiterated Buy rating, reflecting positive analyst sentiment.