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UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Fortress Investment Group

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In a report published Monday, Jefferies & Company reiterated its Hold rating on Fortress Investment Group (NYSE: FIG), and slightly raised its price target from $4.25 to $5.00.

Jefferies noted, “FIG reported 3Q12 pre-tax DE of $0.12, in line with our estimate and consensus. FIG continues to raise money across a handful of strategies and the performance fee outlook is improving. Notably, redemptions are also moderating across the liquid and credit hedge fund strategies. However, we remain Hold rated until there is a clearer path to more consistent performance fee generation.”

Fortress Investment Group closed on Friday at $4.55.

Latest Ratings for FIG

DateFirmActionFromTo
May 2014OppenheimerMaintainsOutperform
Nov 2013Goldman SachsDowngradesBuyNeutral
May 2013BarclaysMaintainsOverweight

View More Analyst Ratings for FIG
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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