KBW Believes KKR & Co (NYSE: KKR) Won’t Stop Here

By Ryan Adsit

KBW analyst Robert Lee reiterated a Buy rating on KKR & Co (NYSE: KKR) yesterday and set a price target of $23. The company’s shares closed last Friday at $18.67, close to its 52-week high of $19.30.

According to TipRanks.com, Lee is a 5-star analyst with an average return of 7.8% and a 70.1% success rate. Lee covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Oaktree Capital Group Llc, and SEI Investments Company.

KKR & Co has an analyst consensus of Strong Buy, with a price target consensus of $23.

Based on KKR & Co’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $862 million and quarterly net profit of $268 million. In comparison, last year the company earned revenue of $120 million and had a GAAP net loss of $330 million.

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KKR & Co. LP provides investment and private equity asset management services. It manages investments across multiple asset classes includes private equity, energy, infrastructure, real estate, credit and hedge funds. The firm operates business through four business segments: Private Markets, Public Markets and Capital Markets and Principal Activities. The Private Markets segment is comprised of the global private equity business, which manages and sponsors a group of investment funds and vehicles that invest capital for long-term appreciation, either through controlling ownership of a company or strategic minority positions. The Public Markets segment is comprised primarily of the company fixed income businesses which manage capital in liquid credit strategies, such as leveraged loans and high yield bonds, and less liquid credit products, such as mezzanine debt, special situation assets, rescue financings, distressed assets, debtor-in-possession financings and exit financings. The Capital Markets segment combines the assets acquired in the Combination Transaction with the company’s global capital markets business. The Principal Activities segment manages the firm’s own assets and deploys capital to support and grow the businesses. The company was founded by Henry R. Kravis and George R. Roberts on June 25, 2007 and is headquartered in New York, NY.