Ares Management price target lowered to $165 from $189 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Ares Management (ARES) to $165 from $189 and keeps a Buy rating on the shares. Alternative Managers faced continued share price pressure after Q4 results, with the group down about 15% year-to-date and 10% in the past week, despite software-related risks being manageable and earnings expectations largely unchanged, the analyst tells investors in a research note.