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Bank of America Securities Reaffirms Their Buy Rating on Ares Management (ARES)

Tipranks - Tipranks - Tue Feb 10, 5:38AM CST

Bank of America Securities analyst Craig Siegenthaler reiterated a Buy rating on Ares Management yesterday and set a price target of $223.00.

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Siegenthaler covers the Financial sector, focusing on stocks such as Affiliated Managers, BlackRock, and Interactive Brokers. According to TipRanks, Siegenthaler has an average return of 17.5% and a 61.15% success rate on recommended stocks.

In addition to Bank of America Securities, Ares Management also received a Buy from Deutsche Bank ‘s Brian Bedell in a report issued on February 6. However, on February 4, TipRanks – OpenAI downgraded Ares Management (NYSE: ARES) to a Hold.

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Based on Ares Management’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.37 billion and a net profit of $54.25 million. In comparison, last year the company earned a revenue of $1.26 billion and had a net profit of $177.32 million

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