Apollo Global price target raised to $157 from $138 at BMO Capital

BMO Capital raised the firm’s price target on Apollo Global (APO) to $157 from $138 and keeps an Outperform rating on the shares after its Q3 earnings beat. The company is demonstrating meaningful progress towards 2029 targets as it relates to originations and organic inflows, and while the stock is up over 50% over the past three months, Apollo is one of the few alternative asset managers that is still offering relative value, with the stock trading at an implied 10-times expected 2029 targeted earnings, the analyst tells investors in a research note.