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Citi Investment Research is out with a research report on KKR & Co.
KKR and it has a Buy rating and a $17 price target on shares.
In a note to clients, Citi Investment Research writes, "Maintain Buy; $17 SOTP price target following CIRA-sponsored investor meetings with senior management on 11/7-9. Meetings constructive around: 1) sector's strategic positioning; 2) KKR's improving positioning within the industry as the firm continues to diversify beyond its top tier Private Equity footprint into value-add opportunities and bolster share; and 3) positive updates across key businesses including PE, FI, and CM. Indeed, recent $3B AUM relationship win with the Teacher Retirement System of Texas (see our 11/7 note, High Powered Mandates) reinforces relevance (see also our 11/4 note, Off The Call – Model Efficacy Still Percolating; Maintain Buy; Raise Target $1 to $17 on Building Momentum)."
Shares of KKR lost $1.28 yesterday to close at $12.69, a loss of 9.16%.
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