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On Tuesday, Keefe, Bruyette & Woods maintained a positive outlook on Apollo Global Management (NYSE:APO) shares, reiterating an Outperform rating and a price target of $194.00. The firm’s stance follows Apollo’s recent announcement of acquiring BRDG, a move that aligns with the company’s strategy of pursuing smaller, strategic acquisitions to enhance its portfolio.
The acquisition of BRDG is seen as a continuation of Apollo’s approach, similar to the Argo acquisition disclosed last month. Keefe, Bruyette & Woods analyst highlighted that these types of deals are designed to broaden Apollo’s capabilities and contribute to its growth.
According to Keefe, Bruyette & Woods, the BRDG deal is projected to be slightly accretive to Apollo’s 2025 pre-tax Adjusted Net Income (ANI) per share. The analyst’s preliminary calculations suggest an increase of just under 1%. Furthermore, the transaction is expected to boost the proportion of Fee-Related Earnings (FRE) as a percentage of the total 2025 pre-tax ANI, moving from 37% to 39%.
Apollo Global Management’s strategic acquisition is part of its broader effort to expand and diversify its offerings. The company’s stock rating and price target have been affirmed by Keefe, Bruyette & Woods, indicating confidence in Apollo’s future performance and the potential financial benefits of its latest acquisition.
In other recent news, Redding Ridge Asset Management is poised to expand its assets under management significantly with the acquisition of Irradiant Partners. This acquisition will increase Redding Ridge’s assets by approximately $10.7 billion, bringing their total to nearly $38 billion. Additionally, Apollo Global Management will integrate $2.2 billion in private credit and renewables from Irradiant. Meanwhile, Oldenburgische Landesbank AG is targeting a mid-April initial public offering with a potential valuation of up to $2.1 billion. This move is part of the bank’s growth strategy after previously postponing its listing plans.
In analyst updates, TD Cowen reiterated its Buy rating on Apollo Global Management, maintaining a $214 price target, citing confidence in the company’s revenue growth and strategic planning. Conversely, Keefe, Bruyette & Woods adjusted Apollo’s price target to $194, while maintaining an Outperform rating, noting a beat on principal investing income but factoring in a lower subsidiary real estate equity. JMP Securities maintained a Market Perform rating on Apollo, highlighting the company’s consistent execution but cautioning that current market valuations might already reflect its recent performance. These developments underscore the dynamic activities and strategic shifts occurring within these firms.
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