Key Takeaways
- • UBS maintained a Hold rating on Ares Management (NYSE: ARES) and set a price target of $134.00, according to a TipRanks report published in the Globe and Mail.
- • The Street-wide consensus for Ares Management is a Moderate Buy with an average price target of $147.29, per the same report.
- • Ares reported quarterly revenue of $1.43 billion and net profit of $150.64 million for the quarter ended June 30, compared with $1.35 billion in revenue and $137.06 million in net profit a year earlier.
- • Publisher context indicates UBS analyst Michael Brown lowered the price target from $142 to $134 while keeping the rating unchanged.
Summary
The rating contrasts with the broader analyst community. The Globe and Mail's syndicated report notes that the Street generally carries a Moderate Buy consensus for Ares Management, with an average price target of $147.29. Other coverage cited in the same feed includes target reductions from TD Cowen (to $159 from $163) and BofA (to $156 from $160), as well as a new Overweight initiation at Wells Fargo.
In its most recent earnings release, covering the quarter ended June 30, Ares reported quarterly revenue of $1.43 billion and net profit of $150.64 million. For the comparable period a year earlier, the firm reported revenue of $1.35 billion and net profit of $137.06 million, implying year-over-year growth in both top-line revenue and profit.
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