Apollo Global initiated with an Overweight at Piper Sandler

Piper Sandler analyst John Barnidge initiated coverage of Apollo Global (APO) with an Overweight rating and $188 price target Apollo is at the center of “several key secular themes,” the analyst tells investors in a research note. The firm says there is a continually growing total addressable market for the company via product and demographics addressing the “silver tsunami that is the baby boomer generation.” Apollo is re-defining the financial services industry due to superior asset and liability origination, and the consideration for inclusion in the S&P 500 is a near-term catalyst, contends Piper.