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Investing.com - TD Cowen has reiterated its Buy rating and $164.00 price target on Apollo Global Management (NYSE:APO), citing improved outlook for the company’s retirement services business. This target aligns closely with InvestingPro’s Fair Value assessment, which suggests the stock is currently undervalued despite its $75.5 billion market cap.
The firm noted that following Apollo’s third-quarter conference call on November 4, management shifted its perspective on the Retirement Services segment from "downside risks to upside opportunities." This positive outlook is supported by Apollo’s strong financial position, with a healthy current ratio of 1.99 indicating liquid assets comfortably exceed short-term obligations.
Apollo and Athene’s Retirement Services strategic update on November 24 further strengthened TD Cowen’s conviction in the stock, particularly highlighting "greater sightline to 11% alts return potential."
The research firm maintained its 12-month price target of $164 for Apollo shares, reflecting continued confidence in the company’s growth trajectory.
TD Cowen also indicated that the update reinforces its broader sector view characterized as "building catharsis," suggesting potential positive momentum across the alternative asset management space.
In other recent news, Apollo Global Management has been the focus of several analyst updates and business developments. Morgan Stanley upgraded Apollo Global Management to Overweight, increasing its price target from $151.00 to $180.00, reflecting expectations for growth reacceleration in 2026 and 2027. Goldman Sachs reiterated its Buy rating with a $155.00 price target, highlighting the company’s 2026 Spread Related Earnings outlook, which is expected to stabilize in the 120-125 basis points range. BMO Capital maintained its Market Perform rating and $136.00 price target, noting strong momentum in Apollo’s retirement business heading into 2026.
Additionally, Apollo Global Management is set to host a Retirement Services Business Update for investors on November 24, 2025, where senior management will provide insights related to Athene Holding Ltd. In a separate financial move, King US Bidco, a related entity, announced it has priced €750 million in floating rate senior secured notes due 2032, with the offering expected to close on December 1, 2025. These recent developments suggest a period of strategic activity and financial planning for Apollo Global Management and its affiliated companies.
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