BUZZ-JPM upgrades Partners Group on private wealth growth opportunity

J.P.Morgan upgrades Partners Group PGHN.S to "overweight" from "neutral", saying it sees an opportunity for the Swiss investment management firm's private wealth business

"Partners is well-placed to reap the benefits of increasing private wealth allocations to the private markets asset class," it says

JPM expects growth in Partners Group's assets under management (AuM) to return to double-digit pct from 2025, seeing a 14% EPS compound annual growth rate between 2024 and 2028

It notes 23% of Partners Group's AuM is in private wealth, and highlights its extensive network of distributors and BlackRock BLK.N partnership

Partners Group's shares are up 2.7%, on track for their best day since November 2024 if the gains hold

Out of 16 analysts covering Partners Group, ten rate it "strong buy" or "buy", four "hold" and two "sell" or "strong sell"