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Investing.com - Morgan Stanley upgraded Apollo Global Management (NYSE:APO) from Equalweight to Overweight on Thursday, raising its price target to $180.00 from $151.00. The new target represents significant upside from the current price of $127.20, with InvestingPro data showing the stock is currently trading below its Fair Value.
The upgrade reflects Morgan Stanley’s expectation for growth reacceleration in 2026 and 2027, which could support multiple expansion for the stock after recent years of earnings growth deceleration. This aligns with broader analyst sentiment, as InvestingPro data shows 9 analysts have revised their earnings upwards for the upcoming period.
Morgan Stanley expressed increased confidence in Apollo’s path to achieving over 20% fee-related earnings growth, noting that spread-related earnings growth also appears positioned to inflect positively.
The firm cited net spread stability as the rate cutting cycle nears its end, while performance fee income is expected to benefit from the ongoing capital markets recovery.
Morgan Stanley projects Apollo’s earnings per share growth will reaccelerate from 7% in 2025 to 18% in 2026 and 20% in 2027, with a 14% compound annual growth rate projected over the 2025-2030 period.
In other recent news, Apollo Global Management has made significant financial moves with the pricing of $750 million in senior notes. This offering includes $400 million in 4.600% Senior Notes due 2031 and $350 million in 5.150% Senior Notes due 2035, which will be consolidated with previously issued notes. Additionally, Apollo is set to host a Retirement Services Business Update for investors on November 24, 2025, where senior management will provide insights into Athene Holding Ltd. In another financial development, King US Bidco has priced €750 million in floating rate senior secured notes due 2032, with the offering expected to close on December 1, 2025. Analyst firms have shown optimism towards Apollo Global Management, with Goldman Sachs raising its price target to $155, citing a strong fundraising outlook and expanding capital markets revenues. Keefe, Bruyette & Woods also increased their price target to $173, following Apollo’s earnings report that exceeded expectations. These developments reflect ongoing investor interest and confidence in Apollo’s financial strategies and performance.
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