 Apollo Global Management Inc. shares rose 1.5 in premarket trades on Wednesday after Oppenheimer upgraded the stock to outperform from perform at set a price target of 64 a share for the private equity manager. Oppenheimer analyst Chris Kotowski said Apollo and other private equity firms such as Carlyle Group and KKR Co. Inc. have seen their shares drop sharply this year, but the underlying businesses of the firms remain solid despite jitters about the impact of higher inflation. 