Citi analyst Christopher Allen upgraded Carlyle (CG) to Buy from Neutral with a price target of $65, up from $44. The firm upped estimates to reflect an improved fundraising outlook for Carlyle. It sees momentum for the company across credit, insurance, private wealth, and AlpInvest. Better capital markets should be a tailwind for private equity and Carlyle’s valuation discount is overdone, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CG:
- SBUX Stock Rises as Starbucks China Attracts $10B Valuation
- Here’s Why SoFi Technologies Stock (SOFI) Hit a New 52-Week High Today
- Meta Seeks $29B for AI Push and Continues Poaching OpenAI Talent
- Meta eyes raising $29B to fund AI data center push, FT reports
- TPG, Aquarian bidding on Brighthouse Financial, FT reports