Barclays Maintains an 'Overweight' on KKR (KKR); Raising Estimates and Price Target
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Price: $114.01 -1.12%
Rating Summary:
19 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
19 Buy, 6 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Overweight' on KKR (NYSE: KKR) price target of $20.00 (from $19.00).
Analyst, Roger A. Freeman, said, "KKR reported Q2'12 after-tax ENI/sh of $0.74, above our estimate of $0.23 and consensus of $0.16...While we do not intend to take away from the Alliance Boots sale, which we think is a clear example of the value-add that the KKR franchise can offer, the vast majority of the beat came from one mark-up that had been previously disclosed (although the actual flow through impact to ENI was not). Outside of Boots, ENI would have been roughly in-line with consensus. That said, KKR continues to be one of our top picks in the space, as strong fundraising momentum across a number of alternative strategies coupled with a valuation that appears to ascribe very little value to performance fees offers a compelling opportunity, in our view." (FY12 EPS estimate raised from $2.35 to $2.84, maintains FY13 at $2.22)
For an analyst ratings summary and ratings history on KKR click here. For more ratings news on KKR click here.
Shares of KKR closed at $14.28 yesterday.
Analyst, Roger A. Freeman, said, "KKR reported Q2'12 after-tax ENI/sh of $0.74, above our estimate of $0.23 and consensus of $0.16...While we do not intend to take away from the Alliance Boots sale, which we think is a clear example of the value-add that the KKR franchise can offer, the vast majority of the beat came from one mark-up that had been previously disclosed (although the actual flow through impact to ENI was not). Outside of Boots, ENI would have been roughly in-line with consensus. That said, KKR continues to be one of our top picks in the space, as strong fundraising momentum across a number of alternative strategies coupled with a valuation that appears to ascribe very little value to performance fees offers a compelling opportunity, in our view." (FY12 EPS estimate raised from $2.35 to $2.84, maintains FY13 at $2.22)
For an analyst ratings summary and ratings history on KKR click here. For more ratings news on KKR click here.
Shares of KKR closed at $14.28 yesterday.
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