Oppenheimer Believes KKR & Co (KKR) Still Has Room to Grow


Oppenheimer analyst Allison M. Taylor maintained a Buy rating on KKR & Co (NYSE: KKR) today and set a price target of $29. The company’s shares closed yesterday at $27.11, close to its 52-week high of $27.56.

Taylor said:

“It’s been five years since KKR hosted an investor day, and while the theme of both events was the growth potential of the firm, especially outside of private equity, at this event we have five years of results to review, but against the backdrop of the new favorable C-corp structure. The results have been excellent, and we think the growth targets laid out by management across the platform are conservative and achievable. We left with every reason to believe that the stock remains significantly undervalued in a world where undervalued growth is very hard to find. Here, we recap our favorite slides of the day that illustrate best why KKR remains our top pick in the space.”

According to TipRanks.com, Taylor is a 3-star analyst with an average return of 9.0% and a 80.0% success rate. Taylor covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Ares Capital Corp, and Ares Management.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for KKR & Co with a $28 average price target, which is a 3.3% upside from current levels. In a report issued on June 30, CFRA also maintained a Buy rating on the stock with a $25 price target.

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Based on KKR & Co’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $182 million. In comparison, last year the company had a net profit of $414 million.

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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.

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