TD Cowen's Bill Katz made four cuts in one session. He trimmed price targets on Apollo Global Management, Blackstone, Ares Management, and KKR — all in the same sweep.
Apollo's target fell from $155 to $146. Blackstone dropped from $140 to $133. Ares slipped from $148 to $144. KKR was cut from $106 to $104. All four stocks retain Buy or Hold ratings. The moves signal caution on the alt-asset space despite continued strong fundamentals.
Apollo carries a $78B market cap. Short interest sits at just 7% of free float. Shorts are not pressing their bets against these names.
Utilities also caught analyst attention. Truist's Richard Sunderland cut targets on Xcel Energy, WEC Energy Group, and Sempra. Each target dropped by $3–$4. All three retain Buy or Hold ratings.
Broadcom saw a minor consensus target cut. The average fell from $483 to $477. The chip giant commands a $2 trillion market cap. Short interest is minimal at just 1.1% of free float.
Regeneron also saw its target trimmed by Truist — down from $796 to $778 — while holding a Buy rating.
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