Apollo's Strong Q3 Results Propel Price Forecast Upgrade — Analyst Highlights Asset Growth And Future Potential [Yahoo! Finance]
Fidelity Disruptive Finance ETF (FDFF)
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Source: Yahoo! Finance
On Tuesday, Apollo reported third-quarter adjusted earnings per share of $1.85, surpassing analyst estimates of $1.72 and revenue of $7.77 billion, beating the street view of $4.13 billion Apollo said it now manages a total of $733 billion in assets, with $551 billion generating fees. Over the past year, Apollo saw $151 billion in new inflows and deployed $248 billion in capital. Apollo's Fee Related Earnings (FRE) were $531 million, while Spread Related Earnings (SRE) were $856 million. JP Morgan analyst Kenneth B. Worthington raised the price target to $161 from $143 while maintaining an Overweight rating. The analyst writes that, in just three quarters of 2024, APO has already surpassed the $150 billion 2026 target set during the previous investor day and is on track to achieve the $275 billion annual target by 2029. Following the strong performance and positive commentary, the analyst remains confident that APO's ambitious 2029 targets—20% annual FRE growth, 20% annual SR
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