KKR Stock Price Target: Why Analysts See Major Upside Despite Steep 2025 Slide

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KKR & Co. Inc. (NYSE:KKR) is navigating a turbulent market. The private equity giant’s stock has fallen sharply this year. Yet Wall Street analysts remain remarkably bullish on its future.

This divergence highlights a core tension in today’s investing climate. It pits near-term volatility against long-term strategic execution. The latest analyst call underscores this complex narrative.

TD Cowen Reaffirms “Buy” With a Revised Target

On November 10, the investment firm TD Cowen issued its updated view. It reaffirmed a “Buy” rating for KKR. This is a significant vote of confidence amidst broader market uncertainty.

However, the firm did trim its price target. It moved from $153 down to $146 per share. According to Reuters, this new target still implies a substantial 21% upside from recent trading levels.

The adjustment reflects acknowledged macroeconomic headwinds. These include higher interest rates and market volatility. Yet the maintained “Buy” signal shows belief in KKR’s fundamental model.

Analysts pointed specifically to KKR’s growing insurance operations. Management has set clear targets for this segment. They project a return on equity (ROE) hitting 15% by 2028.

Behind the Stock Slide and the Bullish Forecasts

KKR’s share price performance tells one story. The stock is down over 20% year-to-date. This decline has tested investor patience and reflects sector-wide pressures.

Analyst forecasts tell a very different story. The consensus one-year median price target suggests potential upside of 30%. This stark contrast captures Wall Street’s current dilemma.

Third-quarter results provided key data points. Management reported record management fees. Adjusted net income also remained strong for the period.

Perhaps most telling was a guidance increase during the Q3 call. KKR raised its full-year realization projection. It went from $800 million up to $1 billion.

A Strategic Pivot Focused on Future Growth

Company leadership has been transparent about its strategy. They are actively “rotating the book,” or reshaping the investment portfolio. This process can create near-term earnings distortions.

“We would expect the difference between our reported earnings and the earnings on a marked basis to go up in 2026 but come down over time as the portfolio matures,” management stated. This is a classic long-game play.

The focus remains on fee-related earnings (FRE). KKR guides to at least $4.50 in FRE per share. This metric is crucial as it represents stable, recurring income.

This disciplined approach aims to build resilience. It is not designed for a quick stock pop. It is engineered for sustained performance across market cycles.

The current KKR stock price target from analysts reflects a calculated bet on execution. It balances present challenges against a clearly mapped future. For investors, the choice is between reacting to the slide or anticipating the planned recovery.

Info at your fingertips

Q1: What is the new KKR stock price target from TD Cowen?

TD Cowen set a new price target of $146 per share for KKR. This is down from their previous target of $153. The firm maintained its “Buy” rating on the stock.

Q2: Why is KKR stock down so much this year?

KKR’s stock has fallen over 20% year-to-date. The decline is attributed to broader macroeconomic headwinds. High interest rates and market volatility have pressured the entire alternative asset sector.

Q3: What are KKR’s main growth targets for investors?

Management targets fee-related earnings of at least $4.50 per share. They also aim for a 15% return on equity in their insurance business by 2028. These are key long-term financial goals.

Q4: Did KKR raise its financial guidance recently?

Yes. During its third-quarter earnings call, KKR increased its full-year realization projection. The company now expects $1 billion in realizations, up from a prior guide of $800 million.

Q5: What is the main reason analysts are still bullish on KKR?

Analysts see strength in KKR’s durable fee-related earnings and its insurance strategy. They believe the current stock price does not reflect the company’s long-term earnings power. The price targets imply significant upside.