Market Overview

UPDATE: Oppenheimer Raises PT to $9.50 on Fortress Investment Group after Outstanding Q4 Results

Share:
Related FIG
The Test That Everyone Fears In A Private Equity Job Interview
What You Need To Know To Work At A Hedge Fund

Oppenheimer maintained Fortress Investment Group (NYSE: FIG) with an Outperform rating and raised the price target from $8.50 to $9.50.

Oppenheimer said, "Fortress reported an outstanding 4Q12 with pre-tax istributable earnings (DE) of $0.20 per share vs. our $0.12 estimate. The beat came primarily on better than expected incentive income though base fee-related earnings (FRE) also came in slightly better at $0.07 vs. our $0.06E. The big part of the beat (see Exhibit 1) however, came from incentive fees of $114M vs. our $61M estimate. Importantly, while for most of the past few years, incentive income was solely dependent on the credit business, the liquid hedge fund business is now also a steady contributor."

Fortress Investment Group closed at $6.23 on Wednesday.

Latest Ratings for FIG

DateFirmActionFromTo
Jul 2016Keefe Bruyette & WoodsDowngradesOutperformMarket Perform
Jan 2016Keefe Bruyette & WoodsMaintainsOutperform
Dec 2015Credit SuisseReinstatesNeutral

View More Analyst Ratings for FIG
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Price Target Analyst Ratings

 

Related Articles (FIG)

View Comments and Join the Discussion!