Ares Management, L.P. (ARES) PT Raised to $180 at KBW Following Quarter Beat

Keefe, Bruyette & Woods analyst Kyle Voigt raised the price target on Ares Management, L.P. (NYSE: ARES) to $180.00 (from $164.00) while maintaining a Outperform rating.

The analyst commented: "1Q25 Wrap: Beat in Quarter; ARES reported an $0.11 beat to KBWe and a $0.15 beat to consensus. The beat to KBWe was driven by higher FRE (+$0.01), higher PRE (+$0.03), lower tax rate (+$0.05) and a lower sharecount (+$0.02). Fundraising was a bit light vs. KBWe and consensus. We are tweaking our forward estimates driven by lower management fees (Part 1 fees), along with updated assumptions around interest income & interest expense, and rolling out our 2027 estimate. We raise our PT to $180 from $164, migrating to valuing on discounted 2027E."

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