Market Overview

UPDATE: Bank of America Reinstates Coverage of KKR with a Buy rating and $18 PO

Related KKR
KKR Moves Into Australia While Apollo Global Shares Move 'Down Under'
Markets Close The Week On Negative Note As Ukraine Worries Mount
Archer Daniels to Buy Wild Flavors for $3B (Fox Business)

Bank of America Merrill Lynch has reinstated coverage of KKR & Co. (NYSE: KKR) with a Buy rating, and $18 price objective.

Bank of America Merrill Lynch noted, "[We] are reinstating coverage of KKR (KKR) with a Buy rating and an $18 price objective. KKR is a leading alternative asset manager that is known for leveraged buyouts, but has more recently expanded and diversified its business. We view the outlook as favorable given KKR's expansion strategy in public markets and capital markets and its differentiated balance sheet; strong investment performance and recently improving trends in the important '06 Fund; healthy fundraising; and robust level of exits and a ramp-up in distributions."

KKR closed at $14.50 on Wednesday.

Posted-In: Bank of AmericaAnalyst Color Initiation Analyst Ratings

 

Related Articles (KKR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters