: Oppenheimer upgrades alternatives firm Hamilton Lane to outperform from perform on valuation


Oppenheimer analyst Chris Kotowski on Friday upgraded stock in alternative investment and data firm Hamilton Lane Inc. HLNE, +0.43% to outperform from perform, with a 12-18 month price target of $87 a share. Kotowski said Hamilton Lane’s stock is trading roughly at where it was in 2020 despite about 58% growth in assets under management since the end of 2019. Oppenheimer sees Hamilton Lane as “one of the premier growth companies among the ‘solutions providers’ in particular and the Alt space more generally.” The company continues to face “cyclical headwinds” but the company’s “secular growth story is unchanged,” Kotowski said. Hamilton Lane stock is up 3.1% in 2023 compared to a 21.3% increase by the Nasdaq COMP, +2.19%.

This article was originally published by Marketwatch.com. Read the original article here.

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