KKR upgraded to Overweight from Equal Weight at Wells Fargo

Wells Fargo upgraded KKR (KKR) to Overweight from Equal Weight with a price target of $141, down from $150. The firm says the stock’s upside potential “is too compelling to pass up” as KKR now has “room to run.” The firm sees a favorable growth outlook, supported by fundraising “super-cycle,” an attractive entry point with a more reasonable valuation, and an upcoming changeover from negative to positive data points. KKR has flipped to out of favor from the top consensus long in recent weeks, creating a favorable setup, contends Wells.