KKR price target raised to $166 from $162 at Oppenheimer

Oppenheimer raised the firm’s price target on KKR (KKR) to $166 from $162 and keeps an Outperform rating on the shares. The firm notes KKR reported adjusted net income of $1.18 versus Oppenheimer’s $1.06 and consensus $1.14. The beat was sprinkled throughout the P&L with FRE of 98c slightly ahead of the firm’s 96c estimate, net realized carry, and realized investment income, fee related performance revenues, and insurance all contributing to the beat.