Morgan Stanley analyst Michael Cyprys lowered the firm’s price target on Ares Management (ARES) to $152 from $197 and keeps an Equal Weight rating on the shares. The firm reduced price targets by 24% on average across the alternative asset manager group on 10% lower FY26 EPS forecasts on average as well as lower P/E multiples given the view that “sluggish” capital markets raise risks to the “private markets flywheel.”
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