Ares Management price target raised to $141 from $119 at JPMorgan

JPMorgan raised the firm’s price target on Ares Management to $141 from $119 and keeps an Overweight rating on the shares. The company reported a “substantial beat” in Q4 with management fees topping projections in each of the credit, private equity, real estate, and other sectors. The firm says Ares “remains among the most surefire way” to play the private credit theme. It sees the stock’s premium multiple to peers as warranted.