Ares Management price target raised to $190 from $180 at Oppenheimer

Oppenheimer analyst Chris Kotowski raised the firm’s price target on Ares Management (ARES) to $190 from $180 and keeps an Outperform rating on the shares. On the morning of Ares’ earnings, the stock was up 5.5% in a flattish market. It is a small sign of the absolute credibility that this company has on all things related to private credit, the firm says. On the call, CEO Arougheti pointed to the obvious facts that neither the banks nor the Alts that have reported earnings showed any signs of broad-based credit issues and on this occasion, people finally seemed to listen. Oppenheimer continues to think the group’s selloff is a buying opportunity.