Why Apollo Global Management Shares Are Moving Today?
Portfolio Pulse from Vaishali Prayag
Apollo Global Management (NYSE: APO) shares are trading higher after BofA Securities upgraded the stock from Neutral to Buy, with a slight price target adjustment from $124 to $123. Key catalysts include anticipated inclusion in the S&P 500 and an upcoming Investor Day on Oct. 1. Despite lowered earnings estimates for 2024-2026, the long-term outlook remains strong with expected 15%-20% earnings growth.
August 06, 2024 | 8:05 pm
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Apollo Global Management shares are trading higher after an upgrade from BofA Securities, with a slight price target adjustment from $124 to $123. Key catalysts include anticipated inclusion in the S&P 500 and an upcoming Investor Day on Oct. 1. Despite lowered earnings estimates for 2024-2026, the long-term outlook remains strong with expected 15%-20% earnings growth.
The upgrade from BofA Securities and the anticipation of inclusion in the S&P 500 are significant positive catalysts for Apollo Global Management. The upcoming Investor Day is also expected to boost investor confidence. Despite slightly lowered earnings estimates, the long-term growth outlook remains strong, which should support the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100