Market Overview

Apollo Moves Lower After Earlier Upgrade by Goldman Sachs

Related GS
Dow Earnings: Analysts Expect Goldman Sachs Revenue Decline
Upcoming Earnings: Bank Of America, Goldman Sachs And Morgan Stanley To Report This Week
Notable earnings before Wednesday's open (1/16/2018) (Seeking Alpha)
Related APO
Morgan Stanley Turns Bullish On Apollo Global Management: Here's Why
On Tap Today: House Vote On Tax Reform, Benchmarks Track Higher Early
Apollo Global Management: Tax Reform Is A Potential Catalyst (Seeking Alpha)

Apollo (NYSE: APO) is down 4 percent from its open today, despite an earlier upgrade by Goldman Sachs from Neutral to Buy.

Goldman analysts cited increasing fee-related growth, realized gains, and a valuation pullback for the upgrade.

Goldman also saw “significant scalability” from Apollo's relationship with Athene, adding $35-45 billion in assets from Aviva (NYSE: AV). The relationship could add $3-4 per share in value for Apollo.

Goldman Sachs sees a potential 33 percent return for Apollo in the next 12 months.

Apollo closed Tuesday at $23.52.

Posted-In: Goldman SachsUpgrades Analyst Ratings


Related Articles (APO + AV)

View Comments and Join the Discussion!