TD Cowen's Bill Katz cut price targets on four major alternative asset managers Monday. Apollo Global Management, Blackstone, Ares Management, and KKR all saw targets lowered. Apollo's target dropped the most — from $155 to $146. Katz kept Buy ratings on Apollo, Blackstone, and Ares. KKR remains at Hold.
Apollo carries a 7% short interest as a percentage of free float. That suggests some bearish positioning even among the bulls.
Truist Securities' Richard Sunderland moved in parallel, cutting targets on three US utilities. Xcel Energy fell to $92 from $95. WEC Energy Group dropped to $119 from $124. Sempra was trimmed to $104 from $108.
On the tech side, Broadcom saw its consensus target edge lower — from $483 to $477. The $2 trillion chip giant still holds 43 Buy ratings from analysts.
Citigroup's John Godyn cut General Dynamics to $364 from $380. The defense contractor remains rated Hold. Truist also trimmed Regeneron to $778 from $796, keeping its Buy rating intact.
The broad theme is clear. Analysts are still bullish — but tightening their numbers.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
