Ares Management rises on S&P 500 inclusion

Shares of alternative investment manager Ares Management ARES.N rise 11.3% to $182.76 premarket

Co set to join S&P 500 .SPX before market open on Dec 11

ARES to replace pringles maker Kellanova K.N, which is set to be acquired by candy and snacks giant Mars before 2026

ARES joins alternative asset management heavyweights including Blackstone BX.N, KKR KKR.N and Apollo Global Management APO.N in the SPX

Twelve of 18 brokerages rate the stock "buy" or higher, six "hold"; their median PT is $188.5

As of last close, stock had shed 7% of its value this year