Citi analyst Christopher Allen lowered the firm’s price target on TPG (TPG) to $56 from $72 and keeps a Buy rating on the shares. The firm also added a “90-day negative catalyst watch” on the shares. Citi sees near-term pressure on the shares as perception increases that the fundraising outlook could become more challenged as limited partnership demand diminishes. The analyst believes expectations for TPG’s Impact franchise specifically likely need to be reset lower under the current administration.
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