Apollo Global price target raised to $122 from $111 at BMO Capital

BMO Capital raised the firm’s price target on Apollo Global to $122 from $111 and keeps an Outperform rating on the shares after hosting the company’s management team for investor meetings this week. The firm’s discussions focused on Athene’s spread resiliency, distribution channel diversification, and the path towards a doubling of debt originations over the next five years, the analyst tells investors in a research note. BMO adds that Apollo remains one of the firm’s preferred asset management picks considering its discounted valuation despite peer-leading earnings growth prospects.