KKR price target raised to $70 from $59 at Piper Sandler

Piper Sandler raised the firm’s price target on KKR to $70 from $59 and keeps an Overweight rating on the shares. The analyst remains positive on KKR following the Q2 results but says the shares could see some near-term weakness from transaction-related revenues depending on industry activity levels. While transactional activity has improved in recent weeks, Piper remains cautiously optimistic on the company’s trajectory through year-end given the lack of clarity around where interest rates stabilize, the analyst tells investors in a research note.