HSBC analyst Vikram Gandhi downgraded KKR (KKR) to Hold from Buy with a price target of $173, up from $153. While the firm views KKR as a high-quality name in the U.S. alternative asset manager sector, HSBC sees limited upside potential for the stock from the current level, the analyst tells investors in a research note. HSBC believes the business environment for the alts industry will likely get better in 2025, but thinks it will be tough for the names to beat consensus expectations.
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