Ares Management price target raised to $205 from $195 at Citizens JMP

Citizens JMP analyst Brian McKenna raised the firm’s price target on Ares Management (ARES) to $205 from $195 and keeps an Outperform rating on the shares. Ares’ EPS shortfall was primarily driven by lower realized performance income, which can be “lumpy” quarter to quarter, the analyst tells investors in a research note. Underlying investment performance remains quite healthy across all of Ares’ businesses, highlighting the firm’s strong competitive advantages and capabilities within the end markets it operates in, the firm says.