Ares Management price target raised to $171 from $154 at TD Cowen

TD Cowen raised the firm’s price target on Ares Management to $171 from $154 and keeps a Buy rating on the shares. The firm’s new target is a Street high and based it on its financial guidance seems conservative, its multi-vectored growth pathway, and its high multiple “outcome” reflecting Gen III focus, rising margins, share gains, and strong execution.