Morgan Stanley Lowers PT on Apollo Global Management (APO) Stock

Apollo Global Management, Inc. (NYSE:APO) is one of the Best Bargain Stocks to Buy in November. On October 21, Morgan Stanley reduced the price target on the company’s stock to $151 from $154, while keeping an “Equal Weight” rating, as reported by The Fly. The analyst stated that firm updated the price targets for Alternative Asset Managers, North America, under the coverage. As per the firm, while the credit concerns are expected to dominate the near-term market valuations, the capital markets rebound remains on track.

In a separate release, on October 22, Reuters reported that Apollo Global Management, Inc. (NYSE:APO) is planning to sell its Hispanic grocery chain Heritage Grocers Group. This can fetch ~$1.5 billion. Notably, the fear of immigration raids continues to weaken the consumer demand in Latino communities throughout the US. Reuters also highlighted that the performance of the grocery chain suffered this year due to weak consumer spending.

Baron Funds, an investment management company, released its Q1 2025 investor letter. Here is what the fund said:

“Shares of alternative asset manager Apollo Global Management, Inc. (NYSE:APO) detracted in the first quarter, largely stemming from a reversal in sentiment on the economy and capital markets activity. As mentioned above, alternative asset manager stocks performed well last year, especially after the November elections, on expectations of a recovery in capital markets activity fueled by deregulation and economic growth. Those expectations waned in the first quarter due to uncertainty and volatility around the Trump administration’s policy initiatives. As sentiment faded, alternative asset manager stocks gave back their post-election gains. We continue to own the stock due to Apollo’s differentiated focus on credit and strong management team.”

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Disclosure: None. This article is originally published at Insider Monkey.