Piper Sandler initiated research coverage on Ares Management LP with an overweight rating. The firm set a price target of $150.00 for the alternative asset manager.
Analysts highlighted improving near-term economics in direct lending. This shift is expected to increase Ares' credit management fees.
The company maintains strong fundraising momentum and growth in assets under management. Piper Sandler views Ares as well-positioned within the expanding private credit market.