Barclays maintains an 'Overweight' on Fortress Investment Group (FIG); Stepping Up Capital Raising Globally
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Price: $27.10 -0.77%
Rating Summary:
6 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on Fortress Investment Group (NYSE: FIG) price target of $5.00.
Barclays analyst says, "FIG increased 7.5%, outperforming the S&P500's 1.9% rise, reversing some of its underperformance going into earnings. In our assessment, 3Q results at FIG stood out relative to peers as the company reports on a distributable earnings basis. In our view, this is a higher quality metric compared to Economic Net Income (ENI) that the other alternative asset managers report under, which was also the source of headline misses given 3Q unrealized losses at these companies. Going forward, we would expect shares of FIG to outperform peers as the organic growth story improves following some of the positive momentum witnessed in the 3Q."
"We are lowering our 2011 EPS estimates to $0.42 from $0.46, and our 2012 EPS estimate to $0.56 from $0.64."
For more ratings news on Fortress Investment Group click here and for the rating history of Fortress Investment Group click here.
Shares of Fortress Investment Group closed at $3.66 yesterday.
Barclays analyst says, "FIG increased 7.5%, outperforming the S&P500's 1.9% rise, reversing some of its underperformance going into earnings. In our assessment, 3Q results at FIG stood out relative to peers as the company reports on a distributable earnings basis. In our view, this is a higher quality metric compared to Economic Net Income (ENI) that the other alternative asset managers report under, which was also the source of headline misses given 3Q unrealized losses at these companies. Going forward, we would expect shares of FIG to outperform peers as the organic growth story improves following some of the positive momentum witnessed in the 3Q."
"We are lowering our 2011 EPS estimates to $0.42 from $0.46, and our 2012 EPS estimate to $0.56 from $0.64."
For more ratings news on Fortress Investment Group click here and for the rating history of Fortress Investment Group click here.
Shares of Fortress Investment Group closed at $3.66 yesterday.
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