Wells Fargo Starts Apollo Global Management (APO) at Market Perform; Post Financial Crisis Provides Unique Opportunity

Wells Fargo initiates coverage on Apollo Global Management (NYSE: APO) with a Market Perform. Valuation Range: $19-$20.

Wells analyst says, "In the coming periods, we believe APO will benefit from a rotation out of fixed income and liquidity products and into alternative assets such as real estate, hedge funds, and private equity, as these alternatives provide diversification benefits, as well as more favorable capital appreciation potential in an improving economic environment. Furthermore, low yields and rising interest rates limit the total return potential for most fixed income and liquidity products. However, due to the large percentage of the economic interest being owned by insiders and strategic investors, liquidity issues will limit the upside potential."

For more ratings news on Apollo Global Management click here and for the rating history of Apollo Global Management click here.

Shares of Apollo Global Management closed at $17.97 yesterday.

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