Initiating coverage of Oaktree Capital Group with a Buy Rating and $68 price target. Positive catalysts include acceleration in AuM growth, strong organic growth, and greater investor appreciation for OAK's conservative investment strategy. Earnings outlook suggests DE per unit to drop in 2014 but grow in 2015. Valuation and risks include potential improvement in OAK's P/E ratio and downside risks such as economic slowdown and credit cycle emergence.
doj/DataSet10/EFTA01452660.pdf
{"title":"Alternative Asset Manager Initiation","key_people":["Brian Bedell"],"document_date":"2014-01-28","document_type":"financial","key_locations":["North America","United States"],"key_organizations":["Oaktree Capital Group","Deutsche Bank"],"reference_numbers":["DB-SDNY-0109831","SDNY_GM_00256015","EFTA01452660"]}