10:45 AM EDT, 05/01/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our $115 target on a forward P/E of 23.7x, a premium to peers given KKR's track record of performance. We reduce our 2024 EPS view to $4.85 (from $5.10; consensus $4.78) and keep 2025's at $6.20. We favor KKR's lead over peers, especially its high level of perpetual capital at $240B AUM, or +22% Y/Y (42% of AUM and 50% of fee earning AUM). We see accelerated growth at Global Atlantic, now wholly-owned, with AUM $177B, of which $137B is private credit with greater access to distribute annuities and funds. Total AUM rose 13% Y/Y to $578B, with fee earning AUM at $471B (+19%) and uncalled commitments, or "dry powder," at $98B. New capital raised was $31B in Q1 and $88B in the last 12 months (LTM); capital invested was $14B in Q1 and $48B LTM. The Asset Management segment showed Private Equity at $183B AUM (+10% in Q1 Y/Y), Real Assets at $135B (+12%), and Credit & Liquid Strategy at $260B (+16%). Capital Markets realized $116M in transaction fees in Q1 and $591M LTM; investment income was $135M ($585M).