Why KKR Stock Rocketed Almost 5% Higher Today
The equity of sturdy investment company (NYSE: KKR) made for a fine investment all its own on Tuesday. Its stock price leaped by nearly 5% that trading session, thanks to news of a big institutional investor's reversal on a planned sale (which likely would have pushed the stock's price down). KKR's share gain easily beat the slightly over 1% advance of the S 500 index.
That sizable investor is China Investment Corporation (CIC), the country's sovereign wealth fund. Before market open, Bloomberg, citing unidentified "people familiar with the deal," reported that CIC has canceled a planned sale of several stakes it held in U.S. investment management companies.
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Source Fool.com
KKR & Co. LP Stock
€118.80
0.530%
The stock is one of the favorites of our community with 40 Buy predictions and 2 Sell predictions.
As a result the target price of 133 € shows a slightly positive potential of 11.95% compared to the current price of 118.8 € for KKR & Co. LP.
