Ares Management price target raised to $174 from $155 at Barclays

Barclays analyst Benjamin Budish raised the firm’s price target on Ares Management to $174 from $155 and keeps an Overweight rating on the shares as part of a Q3 earnings preview for the brokers, asset managers and exchanges. The firm believes we continue to get closer to a “normal” market environment, with the initial public market and merger markets “showing signs of life” and rate expectations “driving renewed optimism.” However, Q3 itself has seen softer than expected activity, the analyst tells investors in a research note.