TD Cowen Raises Ares Management (ARES) Price Target on Strong Platform Confidence
The meetings, according to TD Cowen, reinforced the company's faith in the 'compounding nature' of Ares Management's platform and boosted assurance that management can reach and even surpass the key performance metrics set forth at the company's 2024 Investor Day. The firm cited Ares Management's 'Incumbency Advantage' in particular as an important contributor to its optimistic outlook.
Ares Management Corporation (NYSE:ARES) is an alternative asset management with operations in Asia, Europe, and the United States. The company is divided into different divisions, including the Real Estate Group, the Private Equity Group, the Direct Lending Group, and the Tradable Credit Group.
While we acknowledge the potential of ARES as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
Read More: and Disclosure: None.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Post
13 minutes ago
- New York Post
Vladimir Putin gives Alaska man new motorcycle after he complained about cost to repair his Soviet-era bike because of war
Vladimir Putin gave an Alaska man a new motorcycle after he became a viral sensation in Russian state media when he complained that the Ukraine war was making it more expensive to repair the Soviet-era bike he was a driving. Mark Warren, of Anchorage, said he was handed the keys to the spanking new Ural motorbike in a motel parking lot by a Russian embassy staffer last week after Putin's high-stakes meeting with President Trump. 'I have to say that this is a personal gift from the President of the Russian Federation,' the employee told Warren in a propaganda clip blasted out by Russian state media. The bizarre chain of events unfolded after a Russian TV crew, in town ahead of the Putin-Trump meeting, flagged the retired fire inspector down as he was running errands on his Soviet-era bike on Aug. 9. Mark Warren, of Anchorage, said he was handed the keys to the spanking new Ural motorbike in a motel parking lot by a Russian embassy employee last week after Vladimir Putin's high-stakes meeting with President Trump. RUSSIA-1/Handout They initially admired the motorcycle before peppering Warren with questions about the upcoming summit and the economic impacts of the war. In the clip, Warren mentioned that he was finding it harder — and more expensive — to find spare parts for his bike because the manufacturing plant is 'located in Ukraine.' Still, the Russian reporters quickly seized on Warren's remarks by making him the star of a news report about the economic fallout of sanctions and the war in general. President Vladimir Putin gifted an Alaskan man a new motorcycle after he'd briefly complained that US sanctions were making it increasingly more expensive to repair his current Soviet-era model. AP 'So for you, if they resolve this conflict here in Alaska, I mean Putin and Trump, it will be good?' the reporter asked Warren in the report. 'Yes, it will be good,' the local man replied. Days later, Warren told the Anchorage Daily News he received a phone call from one of the reporters claiming the news report had gone viral in Russia — and had even caught Putin's eye. Russian officials quickly promised him a new bike, which retails for roughly $22,000, but Warren insisted he initially brushed it off as a suspected scam given it all sounded 'bats–t crazy.' Less than 24 hours after Putin sat down with Trump, Warren said Russian embassy officials reached out to arrange for him to meet in the parking lot of the Anchorage motel where the Kremlin delegation had been staying. Footage of the gift handover, which was broadcast on Russian state media, showed Warren hopping aboard his new bike and taking it for a spin. 'It's night and day,' Warren said in the clip. 'I like my old one, but this one is obviously much better.' 'I'm speechless, it's amazing. Thank you very much.' Ural's original factory was founded in 1941 in what was then Soviet Russia but it is now headquartered in Washington state. The company, which noted all of its motorcycles are assembled in Kazakhstan, said it pulled its production out of Russia after Putin launched his invasion. While Russian media described the act as a gesture of goodwill to Americans, Warren was adamant he wasn't being used as a Putin propaganda tool. 'They're getting nothing from me,' he said. 'Nothing.' Warren also dismissed the backlash he has been getting for accepting the gift from the Russian strongman. 'I p—ed off all sorts of people,' he said. 'I took it. I could have not taken it, and probably p—ed off just as many people as doing that. I don't care.' 'It's a good bike,' he added. With Post wires
Fast Company
13 minutes ago
- Fast Company
Black beauty businesses are stuggling under Trump's tariffs
Earlier this summer, Dajiah Blackshear-Calloway, 34, started to notice that her regular clients weren't visiting her hair salon as often as they used to. The salon, in Smyrna, Georgia, houses two stylists and offers dozens of services that range from $50 natural hairstyles to $745 tape-in weave extensions. Her most popular services are $254 sew-ins, where human hair extensions are woven into braids, and $125 quick weaves, where human or synthetic hair is styled and then glued to a stocking cap. But the prices of hair extensions and hair glues used to create wigs and weaves have gone up exponentially after U.S. President Donald Trump imposed a series of different tariffs on China and Vietnam, where the majority of Black beauty products are made. The price of a package of hair imported from Vietnam has gone up to $290 from $190 since May. A bottle of hair glue, imported from China, has gone up from $8 a bottle to $14.99 at her local beauty supply store. 'We're being impacted at every level,' Blackshear-Calloway said. 'I'm either having to eat that cost or pass that expense along to my clients, which affects their budgets and their pockets as well.' To avoid passing on rising costs, Blackshear-Calloway is asking her clients to bring their own hair to their appointments. Now her salon is offering a quick weave service without hair for $140, but with hair the price is $400, according to her booking website. She's also struggling to get products since her wholesaler is delaying shipments as tariff rates fluctuate. Kadidja Dosso, 30, owner of Dosso Beauty, which sells hypoallergenic braiding hair, as well as The Dosso Hair Salon in Philadelphia, has also faced delayed shipments on imports from China. She waited over a month to get $50,000 worth of China-made braiding hair via air freight at John F. Kennedy Airport in June, when U.S. President Donald Trump announced 145% tariffs on the country over confusion over what tariff should apply. 'We have to provide more specifics of the products – exact materials, the product use – for it to clear customs,' Dosso said. 'Part of the issue was that the same language that we've been using for years wasn't descriptive enough.' She wants to avoid raising prices on her $13 packets of hair, which customers typically buy at least five at a time to complete one hairstyle. Higher costs Tariffs are disproportionately impacting Black business owners like Blackshear-Calloway and Dosso, said Andre Perry, senior fellow at the Brookings Institution. 'Many Black entrepreneurs started off with less wealth,' Perry said. He said that the wealth gap puts Black entrepreneurs, especially those in low-margin businesses like consumer goods or hair care services, into precarious financial positions as tariffs eat into their bottom lines. Sina Golara, an assistant professor of supply chain and operations management at Georgia State University, said rising costs due to tariffs are 'like a tax that you're imposing on business.' 'In some cases, it could be borne by the foreign manufacturer, but in most cases, it will also have quite a substantial impact on the domestic buyers and consumers,' Golara said. Diann Valentine, 55, founder of Slayyy Hair, first felt the impact of tariffs shortly after the initial 145% tariff was imposed on China and she faced a $300,000 bill to get 26,000 units of braiding hair out of the Los Angeles port in May. 'To lose that kind of money at this stage has been devastating,' Valentine said. Since then she has raised the price of her braiding hair and drawstring ponytail extensions by 20%. She also laid off four employees and is working 16-hour days to compensate in her two Glow+Flow beauty supply stores in Inglewood and Hawthorne, California. Slayyy Hair supplies $8.49 nontoxic braiding hair and $35.99 synthetic drawstring ponytails to TJ Maxx and Marshalls, which have resisted renegotiating prices or delivery deadlines to compensate. 'So essentially, we paid more for our ponytails than TJ Maxx and Marshalls paid for them,' Valentine said. She is also trying to renegotiate price increases with Target, where she sells in at least 70 stores in California, Nevada and Colorado, she said. TJ Maxx and Marshalls declined a Reuters request for comment. Fifty percent of the merchandise comes from China, Valentine said, and prices for synthetic wigs, human-hair weaves, plastic hair rollers, rubber bands, combs and brushes that stock her shelves are trending up at her beauty supply locations. 'I thought maybe we would see an increase in foot traffic because there would be more DIY hairstyles – more women doing their hair at home,' she said. 'But for right now, we've only seen decreased foot traffic and also a decrease in frequency of visits from our existing customers.' Struggling salons While beauty product sales are typically resilient during economic downturns, beauty services are seen as discretionary, said Marley Brocker, senior analyst at market research firm IBISWorld. 'Tariffs on those imports are going to directly lead to higher costs for those service providers, whether they're buying directly from overseas manufacturers or buying from wholesalers within the U.S.,' she said. Black U.S. consumers spent approximately $2.29 billion on hair care products in 2022, according to a NielsenIQ study from that year. But higher prices are causing some Black women to visit the salon less frequently. Deiara Frye, 27, of Raleigh, North Carolina, usually schedules hair appointments at least five times a year, but so far this year she's only gone once. 'Due to the cost of everything rising over the years, I tend to get braids a little more often now than sew-ins, or try to maintain my natural hair,' she said. She's also seeing prices for her natural hair products like Unilever's Shea Moisture and Procter & Gamble's Pantene go up. Fewer visits are impacting salons and beauty supply stores. Until earlier this year, Dionne Maxwell was selling wigs, braiding hair, shampoos, and conditioners out of her mini beauty supply store in Dallas, Georgia, located 33 miles outside of Atlanta, but she shut it down after she started losing foot traffic in May and moved operations into her home. Now she's relying on orders placed through Uber Eats, TikTok Shop and to sustain her business, but even those sales have slowed significantly, she said. 'We don't have the money for advertising, because enough revenue is not coming in to advertise with,' Maxwell said. Tariffs have raised Maxwell's wholesale price for China-made braiding hair by 50 cents per pack, she said, and she is now required to buy more hair in her wholesale orders. She said she's struggled to negotiate better prices with her hair wholesalers, who are requiring her to order more units of merchandise at higher costs. Her wholesaler is asking her to purchase 110 packs of hair per order, when she was previously able to buy 30 packs at a time, she said. 'For the past two months, we have been basically paying our bills out of pocket because we really have had nothing coming in,' Maxwell said.
CNBC
14 minutes ago
- CNBC
Trump expands 50% steel and aluminum tariffs to include 407 additional product types
The Trump administration has quietly expanded its 50% steel and aluminum tariffs to include more than 400 additional product categories, vastly increasing the reach and impact of this arm of its trade agenda. The new tariffs, which took effect Monday, expand the scope of the levies that President Donald Trump previously announced on the valuable commodities. The tariff list now covers products like fire extinguishers, machinery, construction materials and specialty chemicals that either contain, or are contained in, aluminum or steel. "Auto parts, chemicals, plastics, furniture components—basically, if it's shiny, metallic, or remotely related to steel or aluminum, it's probably on the list," Brian Baldwin, vice president of customs at Kuehne + Nagel International AG wrote on LinkedIn of the expanded list. "This isn't just another tariff—it's a strategic shift in how steel and aluminum derivatives are regulated," he continued. The levies extend to 407 new product categories, the Department of Commerce said Tuesday. "Today's action expands the reach of the steel and aluminum tariffs and shuts down avenues for circumvention – supporting the continued revitalization of the American steel and aluminum industries," Under Secretary of Commerce for Industry and Security Jeffrey Kessler said in a statement. The release from the agency links out to a list that identifies the newly included product types only by the specific customs codes that apply to them, not by what the products are actually called. For example, Commerce identifies the product category of fire extinguishers only as "8424.10.0000," a 10-digit code buried among hundreds of other 10-digit codes. This format makes it very difficult for the public to get a full picture of all the products that are impacted by Monday's expanded tariffs. But experts say the impact will be enormous. "By my count, the steel and aluminum tariffs now affect at least $320 billion of imports based on 2024's general customs value of imports," Jason Miller, a professor of supply chain management at Michigan State University, wrote on LinkedIn. "This will add more inflationary cost-push pressures to already climbing prices that domestic producers are charging as picked up by July's PPI data," he continued. President Donald Trump has repeatedly relied on sector-specific tariffs to enact his sweeping trade agenda. In June, Trump announced that he was doubling tariffs on steel and aluminum imports to 50% for most countries, injecting widespread uncertainty among businesses and U.S. trading partners reliant on the valuable commodities. The White House did not immediately respond to CNBC's request for comment on whether the new metal tariffs stack on top of the country-specific tariffs that Trump has also announced.
