What Made Oppenheimer Upgrade Apollo Global Management’s Stock?

Oppenheimer analyst Chris Kotowski upgraded Apollo Global Management (APOResearch Report) to Buy yesterday and set a price target of $59.00. The company’s shares closed last Tuesday at $47.37.

According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 17.5% and a 68.9% success rate. Kotowski covers the Financial sector, focusing on stocks such as Focus Financial Partners, JPMorgan Chase & Co., and New Mountain Finance.

Apollo Global Management has an analyst consensus of Moderate Buy, with a price target consensus of $56.83, implying a 19.6% upside from current levels. In a report issued on April 12, Wells Fargo also maintained a Buy rating on the stock with a $57.00 price target.

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Based on Apollo Global Management’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.3 billion and net profit of $434 million. In comparison, last year the company earned revenue of $915 million and had a net profit of $166 million.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APO in relation to earlier this year.

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Apollo Global Management, Inc. engages in the provision of alternative investment management services. It operates through the following segments: Credit, Private Equity, and Real Assets. The Credit segment focuses on the investment in non-control corporate and structured debt instruments including performing, stressed, and distressed instruments across the capital structure. The Private Equity segment consists of investment in control equity and related debt instruments, convertible securities, and distressed debt instruments. The Real Assets segment includes investment in real estate equity and infrastructure equity; and real estate and infrastructure debt. The company was founded by Marc Jeffrey Rowan, Leon David Black, and Joshua Jordan Harris in 1990 and is headquartered in New York, NY.