UPDATE: Deutsche Bank Reiterates on Oaktree Capital Group LLC on Mixed Factors
In a report published Wednesday, Deutsche Bank analyst Brian Bedell reiterated a Buy rating on Oaktree Capital Group LLC (NYSE: OAK), but lowered the price target from $69.00 to $65.00.
In the report, Deutsche Bank noted, “After especially strong 4Q earnings reports in Jan-Feb, the weaker market in 1Q14 and slower realization activity should drive sequential median declines of 30-40% across ENI, DE & Distribution for the Alts. However, with the Alts stocks down a median 10% vs. pre-4Q earnings season (1/24/14), substantially underperforming asset managers (-1%) and the S&P 500 (+3%), the stocks are broadly poised to at least modestly outperform should equity markets avoid further declines over next 2-3 weeks. We think cheaper valuation amid consistent growth stories (barring a prolonged market correction) will be the primary catalysts.”
Oaktree Capital Group LLC closed on Tuesday at $52.62.
Latest Ratings for OAK
|Feb 2016||JP Morgan||Maintains||Neutral|
|Feb 2016||Keefe Bruyette & Woods||Maintains||Outperform|
|Jan 2016||Deutsche Bank||Maintains||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.