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[dav1234]

Citi pulls Buy rating on Apollo
In what sounds like a valuation call after a major run for the stock and an earnings beat yesterday, Citigroup cuts Apollo Global Management (APO) to Hold.
Lack of investment opportunities? On the earnings call (transcript), Credit Suisse's Howard Chen notes P-E deployment levels this year are only about half of the $3.5B-$4B range they've typically been at for the last decade