On Tuesday, KKR & Co Inc. (NYSE:KKR) shares edged slightly higher after revealing strategic investments in two companies. The New York-based asset manager announced the minority ownership of the supply chain software business from Korber. It also teamed up with Synergy to acquire Two Drydock from Swedish construction and development company, Skanska.
KKR will work with Korber’s supply chain business to boost its organic and inorganic growth strategies, thereby expanding its footprint whilst accelerating the transition to SaaS. On the other hand, KKR is investing in Two Drydock through its real Estate Fund, which has grown to over $36 billion across the U.S., Europe, and Asia as of Sept. 30, 2021.
Details of the two deals were not disclosed.
Should you bet on KKR’s exciting growth?
From an investment perspective, KKR shares trade at an exciting P/E ratio of 8.21, making the stock a compelling option for bargain hunters.
In addition, analysts expect the company’s earnings per share to grow at an average annual rate of 33.33% for the next five years compared to 26.90% over the previous five.
Therefore, the stock could also be an attractive option for long-term growth investors.
Technically, KKR shares seem to be trading within a descending channel in the intraday chart. As a result, the stock has dropped closer to the oversold conditions of the 14-day RSI.
Therefore, investors could target potential rebound profits at about $77.48, or higher at $83.96. On the other hand, if the decline continues, KKR could find support at about $66.04, or lower at $59.89.
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