Ares Management price target lowered to $101 from $109 at Wells Fargo

Wells Fargo analyst Finian O’Shea lowered the firm’s price target on Ares Management to $101 from $109 and keeps an Equal Weight rating on the shares. The firm is also reducing EPS estimates on some deployment-based uncertainty for pace of management fee ramp-up, although Ares Management remains as a relatively high-growth and stable alt manager.