JPMorgan analyst Kenneth Worthington raised the firm’s price target on Apollo Global to $143 from $129 and keeps an Overweight rating on the shares following the investor day. The firm sees the company’s key projections such as 20% average fee-related earnings growth and 10% average spread-related earnings growth over the next five years as achievable. The analyst came away with a more positive view of Apollo, in particular on the back of an earnings shift that is expected to skew more towards asset management.
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