Citi analysts William R Katz, Neil Stratton and Steven J Fullerton come away impressed from investor meetings with senior KKR & Co. L.P. (NYSE:KKR) management on 9/24.
Their report highlights factors that could drive KKR & Co. L.P. (NYSE:KKR) shares higher over the next 12 months, even considering that the stock has done well YTD.
Correlation catch-up
The analysts point to KKR’s surprising disconnect with the underlying stock performance of its major portfolio companies. KKR’s stock price has historically maintained a very high degree of correlation – as much as +0.92 - with its major listed portfolio companies such as Dollar General Corp. (NYSE:DG), HCA Holdings Inc (NYSE:HCA), Nielsen Hldg NV (NYSE:NLSN) and NXP Semiconductors NV...
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