Apollo Global price target lowered to $125 from $131 at Barclays

Barclays analyst Benjamin Budish lowered the firm’s price target on Apollo Global (APO) to $125 from $131 and keeps an Overweight rating on the shares. The firm adjusted targets in the brokers, asset managers and exchanges group as part of a Q1 earnings preview. The analyst reduced realizations estimates again and expects messaging “to be a bit less constructive” this quarter. Barclays finds shares of the alternative asset managers attractive and thinks Q1 “could be a bit of a clearing event.”