RBC Capital transferred coverage on Ares Management (ARES) to analyst Bart Dziarski, who lowered the firm’s price target to $173 from $180 and keeps an Outperform rating on the shares. With 65% of managed assets in private credit, Ares has been caught up in the negative private credit sentiment sweeping the alts, but the de-rating has gone too far, the analyst tells investors in a research note.
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