In a remarkable display of market confidence, Apollo Global Management (NYSE:APO)'s stock soared to an all-time high, reaching a pinnacle of $168.7. This milestone underscores a period of significant growth for the investment firm, which has seen its stock value climb an impressive 90.74% over the past year. Investors have rallied behind Apollo's strategic initiatives and strong performance across its diverse portfolio, propelling the company's shares to unprecedented heights and setting a new benchmark for its financial trajectory.
In other recent news, Apollo Global Management has been the subject of several positive reviews from financial firms. Piper Sandler initiated coverage on Apollo with an Overweight rating, highlighting the company's strategic positioning in the market and its ambitious growth targets. Apollo's aim for a 20% increase in fee-related earnings and a 10% rise in spread-related earnings by 2029 were underscored.
Several other firms have also raised their price targets for Apollo. KBW raised it to $168, citing higher Fee Related Earnings, Strategic and Risk Earnings, and Principal Investment Income as key contributors. BMO Capital increased Apollo's price target to $157, highlighting the company's strides towards its 2029 financial objectives. TD Cowen raised its price target for Apollo to $178, reflecting a positive outlook on the firm's future earnings potential.
Evercore ISI maintained an Outperform rating for Apollo and increased the investment firm's price target to $174, emphasizing Apollo's unique approach to asset management. Deutsche Bank (ETR:DBKGn) maintained a Buy rating, highlighting Apollo's record $62 billion in third-quarter origination and solid Fee-Related Earnings results.
These recent developments follow a robust third quarter for Apollo, marked by record fee-related earnings of $531 million, strong spread-related earnings of $856 million, and an adjusted net income of $1.1 billion. The company aims for both fee-related earnings and spread-related earnings to reach $10 billion by 2029, with adjusted net income doubling to $15 per share.
InvestingPro Insights
Apollo Global Management's recent stock performance aligns with several key metrics and insights from InvestingPro. The company's market capitalization stands at an impressive $95.31 billion, reflecting its substantial presence in the financial services sector. Apollo's strong momentum is further evidenced by its 92.03% total return over the past year, surpassing even the article's mentioned 90.74% growth.
InvestingPro Tips highlight Apollo's position as a prominent player in the Financial Services industry, with the stock trading near its 52-week high—a fact corroborated by the 99.88% proximity to its 52-week peak. The company's robust financial health is underscored by its ability to maintain dividend payments for 14 consecutive years, appealing to income-focused investors.
For those seeking a deeper understanding of Apollo's valuation and growth prospects, InvestingPro offers 16 additional tips, providing a comprehensive analysis of the company's financial landscape. These insights can be particularly valuable for investors looking to capitalize on Apollo's current market momentum.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.