UPDATE: J.P. Morgan Initiates Coverage on Oaktree Capital Group

According to a research report published this morning, J.P. Morgan has initiated Oaktree Capital Group OAK with a Neutral rating and $44 PT. In the report, J.P. Morgan explained, "Oaktree is exceptionally good at generating better-than-peer investment returns across a variety of credit products. Fundraising has been a core competency and Oaktree is back in the market with some of its flagship funds. What makes Oaktree special in our mind is its consistently strong investment performance within its niche, and management's focus on delivering value and treating customers fairly. We think stocks in the alternative asset management sector are attractively valued. However, we see Oaktree appropriately valued relative to peers on an adj. ENI basis." Oaktree Capital Group is currently trading at $37.