Markets
Wells Fargo & Company Begins Coverage on Ares Management (NYSE:ARES)
Wells Fargo & Company initiated coverage on Ares Management (NYSE:ARES) with an "overweight" rating and a $136 price target, indicating a potential upside of 15.56%. This new rating aligns with a "Moderate Buy" consensus among analysts, with an average target price of $156. The report highlights Ares Management's solid Q2 earnings, institutional interest, and positive developments like successful fundraising and strategic investments in renewable energy and telecom infrastructure.