UPDATE: Citigroup Reiterates Buy Rating, Raises PT on Apollo Global Management
In a report published Monday, Citigroup reiterated its Buy rating on Apollo Global Management (NYSE: APO), and raised its price target from $16.75 to $18.00.
Citigroup noted, “We affirm our Buy rating and raise our 12-month target $1.25 to $18 following a constructive 3Q update. While we prefer BX reflecting diversification, superior organic growth outlook, and leverage to improving realizations (particularly in the Real Estate), we are encouraged by APO's consistent yield story and leverage to rising monetization activity.”
Apollo Global Management closed on Friday at $14.33.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.