UPDATE: Citi Raises Apollo Global Management's PT

According to a research report published this morning, Citi has increased Apollo Global Management's

PT from $16.50 to $16.75. In the report, Citi explained, "Following constructive call around: 1) monetization/distribution visibility; 2) capital deployment opportunities; 3) strategic orientation; & 4) model scalability/efficacy. APO continues to offer differentiated yield potential and we see attractive upside to target even factoring the 5/8 snapback following the 1Q ENI beat. Revised target reflects updated SOTP/DEDM blend with a higher DEDM valuation (no change to 75%/25% SOTP/DEDM weights)." Citi maintains its Buy rating on Apollo Global Management, which is currently trading at $12.63.