Goldman Sachs analyst Alexander Blostein has reiterated their bullish stance on KKR stock, giving a Buy rating on April 9.
Alexander Blostein has given his Buy rating due to a combination of factors that indicate KKR & Co. exhibits strong potential for substantial near-term and long-term growth. He notes the company’s diverse product offerings and distribution channels which contribute to its earnings predictability and durability. Moreover, Blostein highlights KKR’s ambitious target to not only double its earnings power in the coming years but to potentially quadruple it within the next decade. This aggressive growth trajectory is underpinned by robust management fee growth, leveraging of internal strategies to enhance revenue, and smart balance sheet management, all pointing toward a strong future financial performance for KKR.
Additionally, Blostein’s confidence in KKR is bolstered by the firm’s strategic approach to capital deployment, including its history of investing in Insurance and Core Private Equity. He underscores the expectations set by KKR’s management for a generation of over $25 billion in capital over the next five years, which should facilitate continued high-return investments. While acknowledging that investors may desire more details on the specifics of capital utilization, Blostein remains encouraged by the firm’s track record and management’s demonstrated confidence in identifying and executing high-ROE investments. This well-rounded assessment forms the basis of his Buy recommendation for KKR & Co.’s stock.
In another report released on April 9, JMP Securities also maintained a Buy rating on the stock with a $112.00 price target.
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KKR & Co (KKR) Company Description:
KKR & Co., Inc. engages in the provision of 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 lines: Private Markets, Public Markets, Capital Markets, and Principal Activities. The Private Markets line manages and sponsors a group of private equity funds that invest capital for long-term appreciation, either through controlling ownership of a company or strategic minority positions. The Public Markets line operates combined credit and hedge funds platforms. The Capital Markets line comprises of global capital markets business. It implements traditional and non-traditional capital solutions for investments or companies seeking financing. The Principal Activities line manages the firm’s assets and deploys capital to support and grow the businesses. The company was founded by Henry R. Kravis and George R. Roberts in 1976 and is headquartered in New York, NY.
