Apollo Global Management, Inc. (NYSE:APO) stock has soared to a 52-week high of $176.8, representing a 97% gain from its 52-week low of $89.45, as the $100 billion market cap investment manager continues to capitalize on favorable market conditions. InvestingPro analysis suggests the stock remains undervalued despite its recent surge. This peak reflects a significant surge in the company's stock value, with an impressive 1-year return of 95% and a strong YTD gain of 90%. Investors have shown increased confidence in Apollo's strategic initiatives and performance, driving the stock to outperform within its sector and rewarding shareholders with robust returns at a reasonable P/E ratio of 18.4. The company's ability to navigate the complex financial landscape and deliver consistent growth has been a key factor in its stock's upward trajectory over the past year. InvestingPro subscribers have access to 16 additional investment tips and a comprehensive Pro Research Report for deeper analysis.
In other recent news, Apollo Global Management Inc. has been making significant strides in the renewable energy sector and financial markets. The company has recently agreed to purchase a 50% stake in a portfolio of solar and battery energy storage systems in Texas from TotalEnergies (EPA:TTEF). The portfolio includes approximately 2 gigawatts of assets, including three solar projects and two battery storage projects.
Apollo has also been the subject of numerous analyst actions following a strong third quarter, which included record Fee Related Earnings (FRE) of $531 million, robust spread-related earnings (SRE) of $856 million, and an adjusted net income of $1.1 billion. Analysts from TD Cowen, BMO Capital Markets, and Keefe, Bruyette & Woods have all adjusted their price targets for Apollo, mainly due to higher management fees.
In addition, Piper Sandler has initiated coverage on Apollo, assigning an Overweight rating and a price target of $188. The firm highlighted Apollo's strategic positioning and ambitious growth targets, aiming for both FRE and SRE to reach $10 billion by 2029, with adjusted net income doubling to $15 per share. These are recent developments that investors should be aware of as they could influence Apollo's future performance.
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