Ares Management price target lowered to $127 from $131 at Jefferies

Jefferies lowered the firm’s price target on Ares Management to $127 from $131 and keeps a Hold rating on the shares. The firm has updated estimates and highlights some of the primary themes for the industry following Q1 earnings for the alternative asset managers. In general, activity levels “across the board are off to a slow start in 2024,” but “optimism was universal” across deployment levels, monetization opportunities and fundraising, the analyst tells investors in a group recap note.