Keefe Bruyette analyst Michael Brown upgraded Apollo Global to Outperform from Market Perform with a price target of $88, up from $84. The stock’s post-earnings underperformance is an overreaction, with the market overlooking the "bright spots" of better than expected fee related earnings growth and the company’s expectation for a record year of capital raising in 2023, the analyst tells investors in a research note. The firm expects Apollo’s recent investments across the franchise to deliver significant growth over the coming years.
Published first on TheFly
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