KKR price target lowered to $117 from $135 at Piper Sandler

Piper Sandler lowered the firm’s price target on KKR (KKR) to $117 from $135 and keeps an Overweight rating on the shares. The firm notes asset managers have endured a difficult start to 2026, lagging both the broader market and the financial sector. This weakness is driven by heightened scrutiny on private credit, elevated redemptions in direct lending wealth products, softer equity markets, and a muted capital markets outlook tied to volatility and the Iran War. While these macro headwinds will not dissipate overnight, Piper believes draconian downside scenarios are already priced into much of its coverage universe.