Apollo Global price target lowered to $177 from $187 at Wells Fargo

Wells Fargo analyst Michael Brown lowered the firm’s price target on Apollo Global (APO) to $177 from $187 and keeps an Overweight rating on the shares. The firm sees greatest impact for episodic fee streams from macro and cap markets uncertainty, but long-term outlook remains upbeat, and valuations are more attractive after year-to-date underperformance.