KKR price target raised to $90 from $75 at Keefe Bruyette

Keefe Bruyette analyst Michael Brown raised the firm’s price target on KKR to $90 from $75 and keeps an Outperform rating on the shares. KKR released a number of strategic announcements last week and the headline is the changes will result in approximately 10% accretion to estimates for 2024, the analyst tells investors in a research note. The firm says all the strategic changes are multiple accretive. Although KKR was not added to the S&P 500 Index with the Q3 rebalance, “we think it is simply a matter of time,” says Keefe.