Morgan Stanley Resumes Ares Management, L.P. (ARES) at Equalweight

Morgan Stanley analyst Michael Cyprys resumes coverage on Ares Management, L.P. (NYSE: ARES) with a Equalweight rating and a price target of $90.00.

The analyst comments "We see path for 26% annual growth in fee-related earnings (FRE) to reach $1.3b in 2025. But with our forecasts in-line with consensus, we see less scope for upward revisions and see potential for greater competition. At 21x P/E on '23 vs. peers at 18x, growth appears more priced in."

For an analyst ratings summary and ratings history on Ares Management, L.P. click here. For more ratings news on Ares Management, L.P. click here.

Shares of Ares Management, L.P. closed at $79.75 yesterday.

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