Wells Fargo contributes to his prospects at Ares Management Corporation (Ares) and reportedly issues a bullish prediction for the $ 52 billion global alternative investment manager.
Wells Fargo analyst Michael Brown is elevation Ares’ price target from $ 182 to $ 189, while an overweight rating repeats, reports Insider Monkey.
Brown says that the continuous performance of the company and the future prospects remain strong.
Ares Management reported $ 1.04 billion in the first quarter of the year, an increase of 38.21%.
The company is also well positioned to perform well, despite the market volatility caused by the announced rates of the US President Donald Trump on 2 April, so-called ‘Liberation Day’, and other geopolitical events, which led to a decrease in liquid credit and stock markets due to traditional capital.
Ares fell to a low of around $ 110 on 4 April, but has since risen around 48% since then.
According to the analysis, Ares’s business model enables them to prevent them from having to sell assets in the midst of market insecurity because of the management allowance, low balance lever and dependence on long -term and locked capital of third parties. “
More than 72% of the total assets of Ares are in credit -related products.
Also in the first quarter of the year, Ares raised more than $ 20 billion in gross new capital obligations, the highest Q1 fundraising of the company.
Ares acts for $ 164.60 at the time of writing, an increase of more than 2% in the last 24 hours.
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