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Oppenheimer analyst Chris Kotowski maintained a Buy rating on KKR & Co (KKR) today and set a price target of $34. The company’s shares opened today at $24.45.
Kotowski wrote:
“KKR reported $0.38 per share of after-tax 1Q19, compared to our estimate of $0.43 and consensus of $0.37. Total segment revenues of $850M were $57M lower than our $907M forecast, primarily driven by lower total realized investment income than we had expected. Additionally, the tax rate of 14.3% was 2.8 percentage points higher than our 11.5% expectation. All other line items were largely in line. That said, on balance we would characterize this as a solid quarter. Average FPAUM was $144B, $3.0B higher than our $141B estimate. Net accrued carry was up 20.1% and book value rose 9.1% to $16.99/share.”
According to TipRanks.com, Kotowski is a top 100 analyst with an average return of 13.3% and a 73.0% success rate. Kotowski covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Fidus Investment Corporation, and BlackRock TCP Capital Corp.
Currently, the analyst consensus on KKR & Co is a Moderate Buy with an average price target of $29.38, which is a 20.2% upside from current levels. In a report issued on April 15, Citigroup also maintained a Buy rating on the stock with a $34.50 price target.
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The company has a one-year high of $28.73 and a one-year low of $18.30. Currently, KKR & Co has an average volume of 3.97M.
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KKR & Co., Inc. provides investment and private equity asset management services. It manages investments across multiple asset classes includes private equity, energy, infrastructure, real estate, credit and hedge funds. The firm operates business through four business segments: Private Markets, Public Markets, Capital Markets and Principal Activities.
