Wells Fargo analyst Michael Brown has reiterated their bullish stance on TPG stock, giving a Buy rating on January 29.
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Michael Brown has given his Buy rating due to a combination of factors influencing TPG’s performance and outlook. Despite a transitional year in 2024 following a significant acquisition, TPG is set for improved growth in 2025, with a strong foundation laid by excellent fund performance. The company’s guidance indicates anticipated quarterly increases in fee revenue and capital raising, bolstering confidence in its future prospects.
Furthermore, TPG’s investment performance has been commendable, particularly in its real estate funds, which have benefited from strategic sub-sector choices. Although there were some shortfalls in management fees, the overall earnings per share exceeded estimates, driven by realized performance earnings and favorable tax outcomes. Brown also notes a brighter outlook for transaction fees and margins in the coming years, supporting a stable price target of $78, which aligns with the Buy recommendation.
In another report released on January 29, Morgan Stanley also maintained a Buy rating on the stock with a $80.00 price target.