KKR price target lowered to $126 from $183 at TD Cowen

TD Cowen lowered the firm’s price target n KKR (KKR) to $126 from $183 and keeps a Buy rating on the shares. Ahead of the Q1 reports, the firm reduced estimates for asset managers and retail brokers, and increased numbers for the exchanges. Charles Schwab (SCHW) remains TD’s top overall pick, followed by Apollo Global (APO). The analyst also added Janus Henderson (JHG) to the firm’s top three picks, replacing Blackstone (BX).