Wells Fargo Maintains Overweight Rating for Apollo Global Management: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wells Fargo has reaffirmed its Overweight rating on Apollo Global Management (NYSE:APO) and increased its price target from $103.00 to $110.00. Apollo's shares are currently trading at $99.53, up 0.59% over the last 24 hours. The new price target suggests a potential upside of 10.52% from the current price. Apollo Global Management is an alternative investment manager with revenue primarily from its Retirement Services segment.
January 22, 2024 | 5:00 pm
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POSITIVE IMPACT
Wells Fargo maintains an Overweight rating on Apollo Global Management and raises the price target to $110, suggesting a 10.52% potential increase from the current price.
The reaffirmation of the Overweight rating and the increase in price target by a reputable financial institution like Wells Fargo is a strong positive signal to the market. It suggests confidence in Apollo Global Management's business model and future performance, particularly given the stock's current upward trend. This could lead to increased investor interest and a potential short-term rise in the stock price, aligning with the new price target.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100