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Investing.com - Citi has raised its price target on Partners Group Holding AG (SIX:PGHN) (OTC:PGPHF) to CHF1,135.00 from CHF1,120.00 while maintaining a Neutral rating on the stock.
The bank’s analysis shows it is 5% above Visible Alpha consensus for assets under management (AUM), primarily driven by foreign exchange factors, though it remains below consensus on flows when excluding the Empira acquisition.
Citi notes that investor sentiment toward Partners Group shares has been weak, with most investors expecting poor results in the upcoming 1H25 AUM update.
Despite the stock trading at a significant discount to historical levels (approximately 19x 2-year forward P/E versus the historical average of 24x), Citi considers Partners Group among the most exposed names to recent geopolitical volatility and sees downside risk to FY25-26 consensus earnings estimates.
The bank identifies the launch of Partners Group’s BlackRock (NYSE:BLK) partnership in the second half of 2025 as a potential catalyst for growth, while cautioning that investors might increasingly question the bull case without signs of accelerating organic growth or improvements in evergreen fund performance.
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