Analyst Alexander Blostein of Goldman Sachs maintained a Buy rating on Ares Management (ARES – Research Report), with a price target of $166.00.
Alexander Blostein has given his Buy rating due to a combination of factors that highlight Ares Management’s strong financial performance and growth potential. The company reported a realized income per share significantly above consensus estimates, driven by a notable pre-tax income beat and a lower tax rate. Additionally, Ares Management’s fee-related earnings exceeded expectations, supported by higher transaction fees and management fees that slightly surpassed consensus forecasts.
Furthermore, key performance indicators demonstrated robust activity levels, with a substantial increase in fee-paying assets under management and healthy capital deployment figures. Despite a slower M&A outlook, Ares Management’s ability to raise and deploy capital effectively, alongside its strong earnings power, positions it well for continued growth. The firm’s ‘all-weather’ credit franchise is particularly well-suited to navigate varying market conditions, reinforcing the confidence in its future performance.
Blostein covers the Financial sector, focusing on stocks such as Franklin Resources, Invesco, and Raymond James Financial. According to TipRanks, Blostein has an average return of 19.0% and a 72.10% success rate on recommended stocks.
In another report released on April 21, RBC Capital also maintained a Buy rating on the stock with a $170.00 price target.