Ares Management price target raised to $117 from $108 at Barclays

Barclays analyst Benjamin Budish raised the firm’s price target on Ares Management to $117 from $108 and keeps an Overweight rating on the shares. The analyst expects realized income to continue at “depressed levels” and fundraising to be “relatively soft” for companies with large private equity funds in the market. Capital markets fees could also print relatively light in Q2, as transaction activity appears fairly unchanged quarter-over-quarter, the analyst tells investors in a research note. The firm sees Apollo and Ares as well positioned, given expected fundraising strength.