UPDATE: Deutsche Bank Initiates Hold, $42 PT on Oaktree Capital Group; Secular Outlook
Deutsche Bank initiates its coverage on Oaktree Capital Group (NYSE: OAK) with a Hold rating and a price target of $42 a share.
Deutsche Bank says, "Oaktree is a leading alternative asset manager, with a focus on credit and contrarian investing, that is well positioned to continue to generate attractive risk-adjusted returns and growth over time. Oaktree is well positioned to benefit from structural industry trends (increasing institutional allocations to alternatives & consolidation of GP relationships) & long-term growth via its leading core strategies, as well as expanding product and distribution opportunities."
OAK closed at $36.80 on Monday.
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