Reported 28 days ago
Raymond James has commenced coverage of Ares Management Corporation (NYSE:ARES) with a Market Perform rating, noting its strong direct lending position and promising growth prospects. Despite the absence of immediate stock catalysts, Ares is valued at a P/E multiple of 32x, justified by its fee-based model and higher growth trajectory compared to peers. The firm anticipates Ares' fee-related earnings to grow at a CAGR of 16-20% through 2028, with potential margin gains from its $81.5 billion in committed non-fee-generating assets.
Source: YAHOO