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Ares Management price target lowered to $163 from $178 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Ares Management (ARES) to $163 from $178 and keeps an Equal Weight rating on the shares. Into Q1 results, the firm lowered EPS estimates 9% on average and is 1% ahead of consensus on a median basis across its alternative asset manager coverage, the analyst tells investors in a preview for the group.

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