Ares Management price target raised to $151 from $150 at Barclays

Barclays analyst Benjamin Budish raised the firm’s price target on Ares Management to $151 from $150 and keeps an Overweight rating on the shares as part of a Q2 earnings preview. The analyst believes the brokers, asset managers and exchanges are continuing to get closer to a “normal” market environment, with the initial public offering and acquisition markets “showing signs of life,” setting the stage for a stronger second half of 2024 and first half of 2025.