RBC Capital analyst Kenneth Lee raised the firm’s price target on Ares Management to $105 from $100 and keeps an Outperform rating on the shares. The company’s Q1 earnings miss was largely due to higher-than-expected taxes, and the firm remains positive on its "strong fundraising outlook" this year, along with the disruption in the bank industry that could present capital deployment opportunities, the analyst tells investors in a research note.
Published first on TheFly
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