UPDATE: Oppenheimer Starts Apollo Global Management (APO) at Perform
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Price: $111.88 -0.75%
Rating Summary:
16 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
16 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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(Updated - October 12, 2012 11:03 AM EDT)
Oppenheimer initiates coverage on Apollo Global Management (NYSE: APO) with a Perform.
The firm comments, "APO is a leading player among the private-equity alternative asset managers, a business model we very much like. We believe it will be the PE distributable earnings from the 2005-2008 vintages that will drive mediumterm stock performance. Apollo has two funds from this era: Fund VII is generating carry, but the gains are primarily driven by Apollo's one large investment in LYB. Fund VI is hovering around the cusp, but some of the public companies in that fund have been struggling. Although we think Apollo will generate value for shareholders over time, we’d be more comfortable being enthusiastic on the name once the Fund VI
companies perform better."
For an analyst ratings summary and ratings history on Apollo Global Management click here. For more ratings news on Apollo Global Management click here.
Shares of Apollo Global Management closed at $14.59 yesterday.
Oppenheimer initiates coverage on Apollo Global Management (NYSE: APO) with a Perform.
The firm comments, "APO is a leading player among the private-equity alternative asset managers, a business model we very much like. We believe it will be the PE distributable earnings from the 2005-2008 vintages that will drive mediumterm stock performance. Apollo has two funds from this era: Fund VII is generating carry, but the gains are primarily driven by Apollo's one large investment in LYB. Fund VI is hovering around the cusp, but some of the public companies in that fund have been struggling. Although we think Apollo will generate value for shareholders over time, we’d be more comfortable being enthusiastic on the name once the Fund VI
companies perform better."
For an analyst ratings summary and ratings history on Apollo Global Management click here. For more ratings news on Apollo Global Management click here.
Shares of Apollo Global Management closed at $14.59 yesterday.
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