Ares Management LP Stock Price Target Raised by TD Cowen to $171

Company Reports Strong First Quarter Results

Firm Clinches Record-Breaking Private Credit Fund

On Monday, TD Cowen expressed confidence in Ares Management LP (ARES) by raising its price target to $171 from $154. This move follows the company's release of strong first quarter results, which showed double-digit year-over-year growth.

Ares Management, a leading global alternative investment manager, reported significant year-over-year increases in its key financial metrics. The company's total assets under management grew by 20% to $274.6 billion, while its distributable earnings rose by 22% to $312.6 million.

Additionally, Ares Management has clinched a record-breaking $34 billion private credit fund, giving the firm tremendous firepower for future investments. This fund is the largest ever raised by the company and is a testament to its strong track record and investor confidence.

The positive news has been reflected in the company's stock performance. On Wednesday, Ares Management LP shares received an updated price, with the stock trading at $163.85 per share as of 11:00 AM ET. For investors looking for exposure to the alternative investment market, Ares Management LP remains a compelling option with strong fundamentals and a promising outlook.