KKR price target lowered to $187 from $190 at Oppenheimer

Oppenheimer analyst Chris Kotowski lowered the firm’s price target on KKR (KKR) to $187 from $190 and keeps an Outperform rating on the shares. Despite a solid earnings print, shares of KKR declined about 5.4% on earnings day on 3.5 times the normal volume. The firm believes the selloff reflects broader investor caution around software exposure within private credit portfolios rather than company specific fundamentals. However, management noted KKR’s software exposure is only about 7% of AUM, well below industry averages, with diversified holdings.