2024-06-28 06:41:46 ET
Summary
- KKR shares have doubled in performance over the past year, exceeding my expectations, but strong asset growth supports more upside.
- The company's AUM is up to $578 billion, with strong performance across all strategies and significant growth in capital raising.
- With at least $7.65 in 2026 earnings power, its recent rally is largely justified, and investors should stay long.
KKR & Co ( KKR ) has been a tremendous performer over the past year, essentially doubling. Since I recommended shares as a “buy” last October , they are up nearly 80%, exceeding my expectations. The company is now fundraising for a new $20 billion fund, pointing to ongoing, aggressive growth. With this continued momentum but with shares also having risen substantially, now is a good time to determine whether KKR is still a buy or if investors should take profits. I remain bullish given its underlying momentum....
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KKR: Asset Growth Justifies Its Strong Rally