Apollo Global Management, the Financial sector company, was revisited by a Wall Street analyst today. Analyst Michael Cyprys from Morgan Stanley upgraded the rating on the stock to a Buy and gave it a $180.00 price target.
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Michael Cyprys has given his Buy rating due to a combination of factors that suggest a positive outlook for Apollo Global Management. He anticipates a reacceleration in both Fee-Related Earnings (FRE) and Spread-Related Earnings (SRE) growth, supported by favorable macroeconomic conditions and diminishing interest rate challenges. This optimistic perspective is bolstered by strategists’ positive views on risk assets.
Cyprys also highlights the current valuation of Apollo’s shares, which have decreased by 20% year-to-date, presenting an attractive entry point for investors. The shares are trading at a price-to-earnings ratio that is significantly lower than historical averages, offering a potential upside of 45% with a price target of $180. Additionally, Apollo’s position in the private credit market is seen as advantageous, given the stable credit conditions and growing demand for new issuances.
In another report released on November 13, Piper Sandler also reiterated a Buy rating on the stock with a $0.00 price target.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of APO in relation to earlier this year.