Citigroup Reaffirms KKR & Co. Buy Rating And Price Target

In a report released this morning, Citigroup said that KKR & Co. (NYSE: KKR) estimates were $0.06 for 3Q after-tax FRE vs. “our $0.05 estimate and $0.42 in ENI, vs. our $0.46 estimate and $0.50 consensus.

“ENI miss reflects better than forecast FRE (more important, we believe) across all three business segments offset by lower capital investments MTM impact. Assumes 42% tax on FRE and 683M shares at 9/30,” Citigroup writes.

Citigroup reaffirms its Buy rating and $15, 12-month price target.

KKR & Co. currently trades at $12.51.