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Investing.com - TD Cowen has raised its price target on Ares Management, L.P. (NYSE:ARES) to $204.00 from $199.00 while maintaining a Buy rating on the stock. The company, currently valued at $57 billion, trades at a P/E ratio of 98.5x and has demonstrated strong momentum with a 33% return over the past year.
The price target increase follows investor meetings sponsored by TD Cowen on June 25, which reinforced the firm’s confidence in Ares Management’s platform capabilities.
TD Cowen noted that the meetings strengthened its belief in the "compounding nature" of Ares Management’s platform, increasing confidence that management can meet and potentially exceed key performance indicators outlined during the company’s 2024 Investor Day held on May 22.
The research firm specifically highlighted what it calls Ares Management’s "Incumbency Advantage" as a factor in its positive outlook for the company.
The $5 increase in the price target reflects TD Cowen’s enhanced conviction in Ares Management’s business model and growth trajectory following the recent investor discussions.
In other recent news, Ares Management has made significant financial moves, starting with the acquisition of a 20% stake in Plenitude for €2 billion, valuing the company at over €12 billion. This transaction aligns with Eni’s strategy to enhance asset valorization, potentially increasing the gross equity value by €1.8 billion to €2.2 billion over 18 months. Additionally, Ares Management is playing a key role in arranging a $5.5 billion private debt deal to fund Clearlake Capital Group’s acquisition of Dun & Bradstreet (NYSE:DNB_old) Holdings, marking one of the largest private credit agreements in history. In another strategic acquisition, an Ares Private Equity fund has acquired a majority stake in Landscape Workshop, aiming to boost the company’s growth through strategic acquisitions and customer expansion. On the analyst front, JMP Securities raised Ares Management’s stock price target from $165 to $185, citing strong earnings and a favorable tax environment following the GCP acquisition. Analyst Brian McKenna also increased the estimated earnings per share for 2025 to $5.15, reflecting confidence in Ares Management’s continued growth and profitability. These developments demonstrate Ares Management’s active role in significant financial transactions and its positive outlook from market analysts.
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