KKR Acquires Minority Stake in Korber; Street Says Buy
Market News

KKR Acquires Minority Stake in Korber; Street Says Buy

Global investment firm KKR & Co. Inc. (KKR) recently announced that it has acquired a minority stake in the supply chain software business of Korber, a technology company. The financial terms of the deal have not been disclosed so far.

Following the news, shares of the company gained marginally to close at $73.04 in Tuesday’s extended trading session.

Strategic Impact

With this investment, KKR will gain access to Korber’s industry-leading warehouse management software solutions, along with its diverse mix of customers across geographies.

Additionally, Korber is expected to benefit from KKR’s expertise in pursuing organic and inorganic growth opportunities and expansion.

Management Commentary

KKR’s management said, “Körber’s supply chain software business is already one of the leading providers with excellent expertise and capabilities in WMS including robotics and voice, led by an industry-leading management team. We look forward to the strategic partnership with Körber and to leveraging our experience of growth acceleration with global software businesses, as well as partnering with management, to help Körber’s supply chain software business reach its full potential in this attractive market.”

See Top Smart Score Stocks on TipRanks >>

Price Target

Recently, Jefferies analyst Gerald O’Hara reiterated a Buy rating on the stock with a price target of $92, which implies upside potential of 26% from current levels.

Consensus among analysts is a Strong Buy based on 7 Buys and 1 Hold. The average KKR price target of $88.88 implies 21.7% upside potential from current levels. Shares have gained about 84.3% over the past year.

Related News:
HEXO Q1 Revenue Rises 70%, Strategic Plan Announced
UBS Found Guilty in French Tax Case; Penalty Slashed to $2B
Toyota to Invest $35B to Launch 30 EVs by 2030 — Report


Price Change
S&P 500
Dow Jones
Nasdaq 100

Popular Articles