Ares Management price target raised to $97 from $93 at Wells Fargo

Wells Fargo analyst Finian O’Shea raised the firm’s price target on Ares Management to $97 from $93 and keeps an Equal Weight rating on the shares. The firm remains considerably constructive on asset managers’ operational outlook, especially in light of growth-enhancing diversification and abundant dry powder, the analyst tells investors in a research note.