Wells Fargo upgrades KKR to 'overweight', sees buying opportunity

Shares of U.S. private equity group KKR KKR.N rise 0.9% to $117.54 premarket

Wells Fargo upgrades KKR to "overweight" from "equal weight" but cuts PT to $141 from $150

Says the recent pullback has provided a much more attractive buying opportunity

"KKR has added considerable diversification to its product suite and geographical mix, and this diversification should help to improve its growth profile as newer strategies continue to scale," brokerage says

Seventeen of 19 brokerages rate the stock "buy" or higher and 2 "hold"; median PT is $171.5 - data compiled by LSEG

KKR stock down ~21% YTD, as of last close; shares rose nearly 79% in 2024