BUZZ-Hamilton Lane rises after Oppenheimer upgrades to 'outperform'

Shares of investment manager Hamilton Lane HLNE.O rise 4.5% to $156.99

Oppenheimer upgrades HLNE to "outperform" from "perform"; assigns PT of $186, a 23.8% upside to stock's last close

Brokerage says there is much to like about the prospects of HLNE for the next year, or two

Brokerage adds that alternative asset managers have many mature investments that are primed for monetization and that short rates appear to have peaked

Oppenheimer also notes that public equity markets are buoyant, and the U.S. Federal Trade Commission should be more open to consolidation in the industry

One of seven brokerages rate the stock "strong buy", five "hold" and one as "sell"; their median PT is $163, according to data compiled by LSEG

HLNE stock jumped 30.5% in 2024

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))