Raymond James upgrades Ares Management (ARES) to a Buy
In a report released on February 9, from Raymond James upgraded Ares Management to a Buy, with a price target of $157.00. The company’s shares closed yesterday at $137.25.
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Ares Management has an analyst consensus of Strong Buy, with a price target consensus of $188.27, implying a 37.17% upside from current levels. In a report released on February 9, Goldman Sachs also maintained a Buy rating on the stock with a $165.00 price target.
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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