Citigroup Comments On KKR & Company Following Investor Day

Citigroup has published a research report on KKR & Company KKR after attending the company's Investor Day.

In the report, Citigroup writes "Four key themes coursed throughout the presentations: 1) KKR has crafted a robust global platform that is far more diversified than investors likely appreciate; 2) there are ample AUM growth drivers across products, asset classes, businesses & geographies in both the ST and LT, with strong performance/lead indicators; 3) there is significant operating leverage potential as headcount growth fades after doubling the past five years, and significant ENI growth potential assuming further global recovery; and 4) monetizations & dry powder deployment cycles still strong – including seven realizations 1Q11 YTD generating ~$2.5B in gross proceeds."

Citigroup maintains its Buy rating and $22 price target.

KKR & Company closed yesterday at $16.59.