Piper Sandler analyst John Barnidge lowered the firm’s price target on Apollo Global (APO) to $165 from $178 and keeps an Overweight rating on the shares. While spread areas likely see tailwinds from variable investment income continuing to normalize, this is rather known, the firm says. Fee has tailwinds from more fee and trading days along with equity tailwinds – also a known, while still facing secular flow headwinds. Piper continues to favor underwriters. Favorable tailwinds from claims experience are good indication not just actuarial review season will be good but also future earnings emergence. Distribution remains strong for both, it adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APO:
- Gold Rockets Toward $4,000 as Bitcoin “Crossing Into Seven Digits Is Only a Matter of Time,” Says Former PayPal President
- Apollo Global to acquire Eagle Creek Renewable Energy, terms undisclosed
- BMO Capital Maintains Hold Rating on Apollo Global Management Amid Earnings Mix and Market Challenges
- Apollo Global initiated with a Market Perform at BMO Capital
- Apollo Global Management Reports Q3 Investment Income Estimates