Wells Fargo Believes Ares Management (ARES) Still Has Room to Grow


Wells Fargo analyst Christopher Harris maintained a Buy rating on Ares Management (ARES) today and set a price target of $51.00. The company’s shares closed last Thursday at $41.71, close to its 52-week high of $45.44.

According to TipRanks.com, Harris is a 4-star analyst with an average return of 5.7% and a 62.1% success rate. Harris covers the Financial sector, focusing on stocks such as BrightSphere Investment Group, Intercontinental Exchange, and Apollo Global Management.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ares Management with a $47.57 average price target, implying a 12.6% upside from current levels. In a report issued on October 21, RBC Capital also maintained a Buy rating on the stock with a $49.00 price target.

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The company has a one-year high of $45.44 and a one-year low of $20.20. Currently, Ares Management has an average volume of 606.1K.

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Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S. and European direct lending. The Credit Group provides solutions for traditional fixed income investors seeking to access the syndicated bank loan and high yield bond markets and capitalize on opportunities across traded corporate credit. It additionally provides investors access to directly originated fixed and floating rate credit assets and the ability to capitalize on illiquidity premiums across the credit spectrum. The Private Equity Group segment manages shared control investments in corporate private equity funds. The Real Estate Group segment provides debt, mortgage loans, and equity capital to borrowers, property owners, and real estate developers. The company was by founded by Michael J. Arougheti, David B. Kaplan, John H. Kissick, Antony P. Ressler, and Bennett Rosenthal on November 15, 2013 and is headquartered in Los Angeles, CA.

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