TD Cowen Cuts Ares Management (ARES) Price Target to $159

TD Cowen has reiterated its Buy rating on Ares Management with a new price target of $159.0, a 38.57% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:16 PM EDT

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TD Cowen cut its price target on Ares Management Corporation ($ARES) to $159 from $163 on October 12, 2026, and rates the stock "Buy".

Since the rating, $ARES is down 5.0% to date (from the $118.15 close on Oct 12, 2026).

ARES Ares Management Corporation

$112.27 -30.16% year to date

Daily close · Oct 16, 2026

Key Points

On October 12, 2026, TD Cowen reiterated its Buy rating on Ares Management Corporation, lowering the price target from $163.0 to $159.0.
TD Cowen's $159 price target implies 38.57% upside from Ares Management Corporation's ($ARES) current $114.74 share price.
Shares of Ares Management recently traded around $114.74, which is about 27.8% below the current price target set by TD Cowen.
Ares Management operates in the financial services sector, focusing on asset management, and is set to report earnings on November 2, 2026.

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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Ares Management Corporation alert may contain errors. Disclosures

TD Cowen has reiterated its Buy rating on Ares Management Corporation (NYSE: ARES) with a revised price target of $159.0 on October 12, 2026. This is a decrease from the previous target of $163.0, reflecting a slight adjustment in their outlook for the company.

Ares Management operates as an alternative asset manager, providing financing solutions and investment opportunities across various sectors, including healthcare and energy. The recent price target suggests that TD Cowen remains optimistic about the company's growth prospects despite the adjustment.

Other Institutional Activity in Ares Management

Several other institutional investors have maintained their positions in Ares Management. Blackrock Inc. holds 16,882,527 shares valued at approximately $1.9 billion, having increased its stake by 713,073 shares, a 4.4% rise. Vanguard Capital Management LLC owns 13,750,238 shares worth around $1.5 billion, increasing its position by 260,355 shares, or 1.9%. Bank of America Corporation significantly boosted its holdings by 7,658,776 shares, now owning 11,855,596 shares valued at about $1.3 billion.

Ares Management Corporation Stock Up 0.6%

Shares of Ares Management recently traded around $114.74. This is about 27.8% below the price target set by TD Cowen, indicating potential upside. The stock's movement and the analysts' target adjustments will be closely watched in the coming weeks.

12-month forecast

$ARES price target

Ares Management Corporation daily closes and this analyst's $159 target. Not advice.

Recent Earnings

Ares Management reported trailing twelve-month revenue of approximately $5.99 billion and an earnings per share (EPS) of $2.18. The company has shown a revenue growth of 5.8% year-over-year and a net margin of 10.6%. Investors will be looking forward to the upcoming earnings report scheduled for November 2, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

C- 50/100

Reported May 1, 2026

Forward outlook
2 target raises vs 2 cuts.
EPS & revenue
EPS missed estimates by 9.0%. Revenue beat estimates by 27.0%.
Profit surprise
EBITDA missed by 7 percent. Operating income beat by 21 percent.
Pre-earnings setup
Bar was high, analysts already very bullish.
Analyst signal
2 target raises, 2 target cuts.
Earnings quality
Gross margin up 56.5 points. Operating margin up 17.0 points. Positive free cash flow.

Earnings Call Summary

First quarter revenue of 1.5 billion dollars beat expectations and AUM grew 18 percent to 644 billion dollars. Management fees exceeded 1 billion dollars for the first time in company history as FPAUM grew 19 percent. The firm raised record 30 billion dollars in gross capital in Q1 and deployed over 32 billion dollars despite market headwinds from geopolitical issues and slowing U.S. M&A deal counts. Dividend increased over 20 percent reflecting confidence in earnings power, though EPS of 1.24 dollars missed consensus of 1.32 dollars due to lower-than-expected realized performance income timing into later quarters.

Guidance Ares expects full year fee-related earnings growth of 16 to 20 percent and realized income growth of 20 to 25 percent, with margin expansion toward the upper end of 0 to 150 basis points. Management expects another record fundraising year and strong deployment across credit, real assets and secondaries as market dislocation creates better investment terms.

Underwhelming report. Mixed results that may lead to slightly lower expectations.

Insider Buying and Selling at Ares Management Corporation

Insider trading activity has included notable sales by General Counsel Aghili Naseem Sagati, who sold 3,921 shares on February 4, 2026, valued at about $529,032. Additionally, Director Ashish Bhutani bought 10,000 shares at an average price of $126.61, totaling approximately $1.27 million on February 6, 2026. Such activity can provide insight into insider sentiment regarding the company’s future.

Analysts Set New Price Targets

On October 12, 2026, TD Cowen maintained its Buy rating on Ares Management, adjusting the price target to $159.0 from $163.0. Previously, on August 3, TD Cowen had set a price target of $155.0, while Oppenheimer set a target of $162.0 on August 27. These ratings indicate a generally positive outlook for the stock, with analysts recognizing its potential despite the recent adjustments.

About Ares Management

Ares Management Corporation, headquartered in Los Angeles, CA, operates as an alternative asset manager. The firm focuses on various investment strategies, including direct lending and private equity, targeting sectors like healthcare and consumer goods. The company's diverse approach to asset management is critical as it navigates market fluctuations and seeks growth opportunities.

Bottom Line

Investors should keep an eye on Ares Management’s upcoming earnings report on November 2, 2026, as well as further analyst ratings and changes. The adjustment by TD Cowen highlights the evolving perspectives on the company's valuation amidst market conditions.