J.P. Morgan Overweight Rating Is Maintained

According to J.P. Morgan, Och-Ziff Capital Management OZM reported a $700mm decline in total AUM this June. J.P. Morgan said that it thinks the numbers were somewhat disappointing. “We maintain our Overweight rating as we continue to like the return profile and earnings outlook for the company, but we believe the quarter was not particularly good. We lower our December 2011 price target to $18.00 (previously $19).” Och-Ziff Capital Management closed yesterday at $14.08.