Ares Management price target lowered to $127 from $138 at Barclays

Barclays lowered the firm’s price target on Ares Management (ARES) to $127 from $138 and keeps an Equal Weight 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.”