Oppenheimer reissued their outperform rating on shares of KKR (NYSE: KKR) in a report released on Friday. Oppenheimer currently has a $21.00 target price on the stock, up from their previous target price of $19.00.
“We upgraded KKR last summer on the tactical notion that distributions should increase meaningfully in 2013 and 2014 as the$17.6B 2006 Fund enters carry mode. We believe that story is fully on track but we had chance to meet with Scott Nuttall, head of Global Capital and Asset Management, and Craig Larson, head of investor relations, and their focus was more on a longer term, strategic growth vision. By comparison to peers, KKR is much more focused on private equity. The segment accounted for 68% of fee-paying AUM, 80% of base management fees, and almost all realized carry income in 2012.,” Oppenheimer’s analyst wrote.
A number of other analysts have also recently weighed in on KKR. Analysts at Zacks upgraded shares of KKR from a neutral rating to an outperform rating in a research note to investors on Wednesday, March 13th. They now have a $20.50 price target on the stock. Separately, analysts at Wedbush raised their price target on shares of KKR from $10.00 to $12.00 in a research note to investors on Monday, February 11th. They now have a neutral rating on the stock. Finally, analysts at BMO Capital Markets reiterated an outperform rating on shares of KKR in a research note to investors on Friday, February 8th. They now have a $20.00 price target on the stock, up previously from $19.00.
One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. KKR currently has a consensus rating of Buy and a consensus target price of $18.60.
Shares of KKR (NYSE: KKR) opened at 19.33 on Friday. KKR has a one year low of $11.03 and a one year high of $20.00. The stock’s 50-day moving average is currently $18.1. The company has a market cap of $5.044 billion and a P/E ratio of 8.75.
KKR & Co L.P. (NYSE: KKR) is a global investment company. The Company’s business offers a range of investment management services to its investors and provides capital markets services to its firm, its portfolio companies and its third-party clients.
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