Ares Management price target lowered to $215 from $224 at Oppenheimer

Oppenheimer lowered the firm’s price target on Ares Management (ARES) to $215 from $224 and keeps an Outperform rating on the shares. The firm notes the selloff in the shares is belied by the company’s strong Q4 print. Oppenheimer believes the broad-based selloff in the Alts sector was driven primarily by investors’ increased fears around software exposure in credit funds and was not driven by company-specific concerns.