Apollo's Strong Q3 Results Propel Price Forecast Upgrade — Analyst Highlights Asset Growth And Future Potential

Apollo Global Management, Inc. (NYSE:APO) shares are trading higher on Wednesday.

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 ...