Ares Management price target raised to $176 from $172 at Wells Fargo

Wells Fargo raised the firm’s price target on Ares Management (ARES) to $176 from $172 on improved group sentiment, while keeping an Equal Weight rating on the shares. The firm notes shares underperformed on November 1 on a soft Q3 and ongoing concerns about margins and wealth distribution costs. Fundraising was a bright spot and deployment picked up, Wells adds.