TD Cowen Lifts Price Target on Ares Management (ARES) Following Meetings with Management

With an annual dividend yield of 4.95%, Ares Management Corporation (NYSE:ARES) is included among the 12 Best NYSE Stocks to Buy for Dividends.

Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate, and infrastructure asset classes. 

On June 23, TD Cowen raised its price target on Ares Management Corporation (NYSE:ARES) from $144 to $153, while reiterating a ‘Buy’ rating on the shares. The target boost reflects an upside of over 40% from the current levels.

TD Cowen updated its model after meetings with the company’s management and revised its earnings and valuation framework to account for the treatment of X-Energy.

Ares Management Corporation (NYSE:ARES) delivered weaker-than-expected earnings in the first quarter. However, its assets under management growth exceeded estimates, and its credit quality remains healthy, reinforcing confidence in the durability of the company’s investment portfolio and earnings power. Moreover, the firm remains on track for another record year of fundraising, as it raised $30 billion of gross capital in Q1.

Ares remains confident to deliver on its longer-term goals of generating compound annual growth of 16% to 20% in FRE, 20% to 25% in realized income, and 20% in dividends.

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