- Why Papa John’s (PZZA) Is Moving Closer to a Possible Sale
May 12, 2026
Papa John’s International, Inc. (NASDAQ:PZZA) is one of the best M&A target stocks to buy now.
Papa John’s International, Inc. (NASDAQ:PZZA) remains in play after Reuters reported on April 15 that the pizza chain was moving closer to a possible sale. The report said Qatari-backed Irth Capital had offered $47 per share in March, with backing from Brookfield Asset Management, after a prior joint bid with Apollo Global Management fell through last year. Reuters also reported that Irth had been conducting due diligence over the past month, while sources cautioned that negotiations were still ongoing and no agreement was guaranteed.Why Papa John’s (PZZA) Is Moving Closer to a Possible Sale
Copyright: olgasun / 123RF Stock Photo
The M&A setup comes as Papa John’s works through softer U.S. demand, which could make a take-private structure more attractive for buyers willing to underwrite a turnaround away from public-market pressure. On May 7, the company reported that first-quarter 2026 global systemwide restaurant sales fell 3%, while global comparable sales declined 4%. North America comparable sales decreased 6.4%, although international comparable sales increased 3.6%. Diluted EPS came in at $0.21, while adjusted diluted EPS was $0.32.
Papa John’s International, Inc. (NASDAQ:PZZA) operates and franchises pizza restaurants across North America and international markets, offering pizza, sides, desserts, and related delivery and carryout services.
While we acknowledge the potential of PZZA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
Disclosure: None. Follow Insider Monkey on Google News.
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- Sector Update: Energy Stocks Rise Tuesday Afternoon
May 12, 2026
Energy stocks gained Tuesday afternoon with the NYSE Energy Sector Index rising 0.7% and the State S
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- Wall Street’s Verdict on Apollo Global After a Flurry of Dealmaking
May 12, 2026
Quick Read
Wall Street’s verdict on Apollo Global Management (APO) after a week of frenzied dealmaking is unmistakably bullish. Retail investors weighing the stock face a setup in which analyst targets sit above the current stock price, fundamentals run at record levels, and the bear case is contained. The analyst who called NVIDIA in 2010 just named his top 10 stocks and Apollo Global Management wasn't one of them. Get them here FREE.
Wall Street's verdict on Apollo Global Management (NYSE: APO) after a week of frenzied dealmaking is unmistakably bullish. Analysts have a Moderate Buy consensus with an average price target of $146.71 for the stock, and the high end of the range now stretches well above where shares closed Monday, even after a sharp one-month rebound in share price.
On May 11, 2026, Apollo-managed funds agreed to acquire Emerald Holding for $5.03 per share in cash, a 42.1% premium to the prior close, alongside the privately held Questex, in a transaction implying an enterprise value of approximately $1.5 billion. The combined entity becomes a leading North American B2B experiential events and media platform with approximately 160 events across diverse industries. Closing is expected in the second half of 2026, pending regulatory approvals.
That deal landed in a remarkable week. Apollo and Blackstone are reportedly in talks to provide approximately $35 billion in financing to Broadcom for AI chip development, which would rank among the largest private credit transactions ever recorded. Apollo also agreed in April to acquire roughly a 13% minority stake in McKesson's Medical-Surgical Solutions for $1.25 billion, valuing the unit at about $13 billion, completed acquisition of a majority stake in France's Prosol Group on May 7, and earlier led a $225 million investment in Pickleball Inc. on May 1.
The analyst who called NVIDIA in 2010 just named his top 10 stocks and Apollo Global Management wasn't one of them.Get them here FREE.
Three Data Points Anchoring the Smart-Money View
First, the analyst spread skews positive. UBS carries a Buy rating with a $158 target, Barclays is Overweight at $131, J.P. Morgan is Overweight at $162, and Jefferies is Hold at $155. Second, analyst coverage momentum has shifted upward: BMO Capital lifted its price target to $140 from $108 on May 11, and Alpha Vantage's broader coverage shows four Strong Buy, 10 Buy, six Hold, and zero Sell ratings across 20 analysts. Third, positioning is heavy. Institutional ownership runs near 77%, and Swedbank AB lifted its stake by 182.5% in Q4 2025 to a $33.06 million position.
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Fundamentals back the ratings. Q1 2026 adjusted EPS came in at $1.94 on fee-related earnings of $728 million, up 30% year over year, with total AUM crossing $1.03 trillion and record quarterly inflows of $115 billion. Polymarket priced a 99.1% implied probability of an EPS beat heading into the report, the third consecutive quarter in which the prediction market resolved "Yes."
The Gap Between Wall Street and the Stock
Shares closed at $130.46 on May 11, 2026, after a 25.1% one-month rebound but a 9.9% year-to-date decline. The implied upside to the consensus is meaningful, and the bull case to the street-high target of $173 is wider still. The Wall Street Journal reported on May 11 that Apollo is in talks to sell MidCap Financial Investment, a publicly traded BDC, in a transaction estimated at approximately $3 billion, which some analysts read as a signal of pressure within the retail private credit segment. Net spread compressed to 0.97% from 1.26% year over year, and a one-time $1.7 billion tax charge tied to the Bermuda ACRA election revocation drove a Q1 GAAP net loss of $1.93 billion. A pending securities class action related to the Jeffrey Epstein controversy remains a potential overhang on the stock.
Insider behavior adds nuance. Of 14 tracked insider transactions between February 11 and February 18, 2026, all but one were share disposals at prices between $125.15 and $132.43, with the lone buy a 2,048-share acquisition by Co-President Scott Kleinman at $129.23.
The Takeaway
The smart money's signal is clear: a Moderate Buy consensus, a fresh BMO target lift, and concentrated institutional buying all point in the same direction, with the Emerald/Questex deal and the reported $35 billion Broadcom financing reinforcing that Apollo's origination engine is compounding scale. Wall Street treats the MidCap rumor as routine portfolio cleanup. Retail investors weighing the stock at $130.46 face a setup in which analyst targets sit above the current stock price, fundamentals run at record levels, and the bear case is contained to one segment and one tax item. The gap is meaningful, and Wall Street has made its position clear.
The analyst who called NVIDIA in 2010 just named his top 10 AI stocks
This analyst's 2025 picks are up 106% on average. He just named his top 10 stocks to buy in 2026. Get them here FREE.
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- Why Circle stock has gone parabolic in May
May 12, 2026
Circle (CRCL) stock is on a red-hot run into the summer months.
The stablecoin issuer’s stock is up 38% to $135 in May, helped by a 16% pop on Monday following mixed earnings. The stock also got a jolt yesterday from a surprise $222 million token presale of ARC to investors led by BlackRock, a16z, Apollo, and others. (Disclosure: Yahoo is a portfolio company of funds managed by affiliates of Apollo Global Management.)
“This is incremental revenue not in estimates, with potentially another sale round to follow (current round was presale) and other ancillary blockchain revenue opportunities,” Bernstein analyst Gautum Chhugani said in a note on Tuesday.
“As we head towards potential rate cuts, any incremental fee income helps Circle offset the short term impact, while raw USDC supply growth offsets any rate impact in the medium to long term. Thus, the ARC incremental revenues made Circle stock more digestible in the near term,” he said.
ARC is a native token for a blockchain Circle plans to launch. Chhugani reiterated an Outperform rating on Circle and a $190 price target.
Read more: How to start buying crypto for $100
The investment thesis on Circle has solidified in recent weeks.
Circle said on Monday that first quarter revenue and reserve income of $694 million increased 20% year over year. Adjusted operating profits increased by 24% from the previous year.Circle CEO Jeremy Allaire at the 2026 TIME100 Gala held at Jazz at Lincoln Center on April 23, 2026, in New York City. (John Nacion/Variety via Getty Images)·John Nacion via Getty Images
Circle co-founder and CEO Jeremy Allaire told Yahoo Finance (video above) that Big Tech players such as Meta (META) and DoorDash (DASH) have begun to use stablecoins. That undercut the market view that these companies would issue their own stablecoins and compete with Circle.
The stock has also gotten a boost from the Trump administration’s push for a more favorable regulatory framework. Last summer, President Trump signed the first federal legislation for dollar-pegged stablecoins like USDC (USDC-USD).
After much delay, the Senate Banking Committee is planning a markup hearing on Thursday on another major crypto bill, the CLARITY Act. The hope is that the bill is signed before August.
Allaire said the act’s eventual passing would be a milestone moment for Circle.
“We think passage of CLARITY would remove a key terminal risk overhang for Circle’s ability to grow USDC market cap via its distribution partners’ reward programs,” JPMorgan analyst Ken Worthington wrote in a note.
Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.
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- Apollo Funds Acquire Majority Stake in Noble Environmental, Inc.
May 12, 2026
Apollo Global Management, Inc.
Investment Supports Vertically Integrated Regional Waste Management Platform Serving the Northeast, Mid-Atlantic and Midwest United States
NEW YORK, May 12, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Apollo-managed funds (“Apollo Funds”) have acquired a majority interest in Noble Environmental, Inc. (“Noble Environmental” or the “Company”), a vertically integrated waste management platform headquartered in Pittsburgh, Pennsylvania.
Founded in 2016, Noble Environmental is a regional leader in waste management across the Northeast, Mid-Atlantic and Midwest United States, providing integrated services spanning solid waste collection, hauling, transfer and disposal to municipalities and commercial customers, alongside a growing RNG business that captures and converts landfill gas into pipeline-quality fuel. The Company’s portfolio of landfills, transfer stations and hauling operations represent long-life hard assets that provide essential services to the communities served by Noble Environmental.
Scott Browning and Brad Fierstein, Partners at Apollo, said, “Noble Environmental has built a differentiated platform in one of the most attractive waste markets in the country. The combination of scarce, permitted landfill assets, a fully integrated service offering and a growing RNG business creates a compelling foundation for long-term value creation. Apollo has a long history of investing in essential service businesses, and we look forward to partnering with the Company’s management team to expand Noble Environmental’s platform and build on its strong foundation.”
David Florance, President and Chief Operating Officer of Noble Environmental, said, “Since inception, Noble Environmental’s goal has been to build a leading waste management business that delivers for the communities we serve while creating lasting value through disciplined operations and strategic growth. Apollo shares that vision, and their experience and resources will be invaluable as we continue to execute on our vision to grow the business.”
Latham & Watkins LLP served as legal counsel to the Apollo Funds.
Guggenheim Securities, LLC served as financial advisor to the Strategic Alternatives Committee of the Board of Directors of Noble Environmental (the “Noble Strategic Alternatives Committee”), and Vinson & Elkins LLP served as legal counsel to the Noble Strategic Alternatives Committee.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2026, Apollo had approximately $1.03 trillion of assets under management. To learn more, please visit www.apollo.com.
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About Noble Environmental
Noble Environmental, headquartered in Pittsburgh, Pennsylvania, is a vertically integrated waste management company providing waste collection, transportation and disposal services through its platform of solid waste landfills and transfer stations located throughout the Northeast, Mid-Atlantic and Midwest. Noble Environmental also operates a portfolio of renewable natural gas facilities at its landfill gas generating solid waste disposal locations. To learn more, please visit www.nobleenviro.com.
Contacts
Apollo
Noah Gunn
Global Head of Investor Relations
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
Communications@apollo.com
Noble Environmental
Nikolas Mermigas
Executive Vice President
nmermigas@nobleenviro.com
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- Wall Street's Verdict on Apollo Global After a Flurry of Dealmaking
May 12, 2026 · 247wallst.com
Wall Street's verdict on Apollo Global Management (NYSE: APO | APO Price Prediction) after a week of frenzied dealmaking is unmistakably bullish.
- Apollo Funds Acquire Majority Stake in Noble Environmental, Inc.
May 12, 2026 · globenewswire.com
Investment Supports Vertically Integrated Regional Waste Management Platform Serving the Northeast, Mid-Atlantic and Midwest United States Investment Supports Vertically Integrated Regional Waste Management Platform Serving the Northeast, Mid-Atlantic and Midwest United States
- APOLLO FUNDS ACQUIRE MAJORITY STAKE IN NOBLE ENVIRONMENTAL, INC.
May 12, 2026
INVESTMENT SUPPORTS VERTICALLY INTEGRATED REGIONAL WASTE MANAGEMENT PLATFORM SERVING THE NORTHEAST, MID-ATLANTIC AND MIDWEST UNITED STATES INVESTMENT SUPPORTS VERTICALLY INTEGRATED REGIONAL WASTE MANAGEMENT PLATFORM SERVING THE NORTHEAST, MID-ATLANTIC AND MIDWEST UNITED STATES
- KKR's $10 Billion Flora Exit Could Still Disappoint Investors
May 11, 2026
This article first appeared on GuruFocus.
KKR & Co. (NYSE:KKR) may be approaching a difficult exit from one of private equity's most closely watched corporate carve-outs, as the firm explores options for Flora Food Group after buying the business from Unilever Plc (NYSE:UL) in mid-2018. KKR paid 6.8 billion, or about $8 billion, for the margarine and spreads business, betting that a standalone owner could improve performance after the division drew strong interest from Apollo Global Management (NYSE:APO), Blackstone (NYSE:BX), CVC Capital Partners and other bidders. The Financial Times recently reported that KKR is exploring a sale at a possible $10 billion valuation, following failed deal talks with an Abu Dhabi sovereign wealth fund in 2024, according to Bloomberg News. While that valuation could suggest a roughly 25% uplift from the original purchase price, the investment may still produce severely disappointing returns because Flora has not generated enough free cash flow to meaningfully reduce its acquisition debt.
Warning! GuruFocus has detected 7 Warning Signs with KKR. Is KKR fairly valued? Test your thesis with our free DCF calculator.
The central pressure point is Flora's balance sheet. Flora ended 2025 with 5.2 billion of net debt, roughly the same level as in 2018, which means a sale could deliver only around 3 billion to 4 billion in proceeds compared with the 2 billion of equity KKR invested when it bought the company. Over an eight-year holding period, those gains could translate into single-digit annualized returns, potentially better than leaving client capital in cash but possibly weaker than simply investing in the S&P 500. That outcome would be a sharp reminder for investors that private equity returns depend not only on profit growth and exit valuations, but also on whether debt can be paid down during the holding period.
The deal had a reasonable strategic logic at the start, but the operating backdrop proved difficult. Margarine volumes had fallen at a compound 4.4% annual rate from 2013 to 2016, according to S&P Global Ratings, while butter was regaining traction as consumers became more skeptical of processed foods and views on cholesterol became more nuanced. KKR had a plausible path to stabilize sales by emphasizing plant-based attributes, cutting costs and turning Flora into a leaner business with stable to modestly growing cash flows. But the transformation required more spending than expected, especially on facilities and IT systems, while pandemic disruption, cost inflation after the wars in Ukraine and the Middle East, and higher interest expenses added further strain. Flora's organic sales were flat last year, with higher pricing offsetting lower volumes, and the company has guided to low- to mid-single digit percentage revenue and profit growth in 2026. Flora has diversified into milkshakes, cheese, plant-based ice cream and oils, but unless its debt can be reduced, an IPO could remain challenging, leaving a trade sale, minority-stake sale or transfer to another private equity firm as possible exits.
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- Sector Update: Financial Stocks Fall Monday
May 11, 2026
Financial stocks fell Monday with the NYSE Financial Index declining 0.4% and the State Street Finan
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