KKR upgraded to Buy on recent selloff at HSBC

HSBC analyst Vikram Gandhi last night upgraded KKR (KKR) to Buy from Hold with a price target of $119, down from $170. The alternative asset managers have seen a significant correction in their share prices since the end of January, the analyst tells investors in a research note. The firm says that despite heightened macro uncertainty, it sees opportunities. HSBC views KKR’s risk/reward equation more favorably, following the sharp correction in the stock price.