GCM Grosvenor price target raised to $15 from $14.50 at Piper Sandler

Piper Sandler analyst Crispin Love raised the firm’s price target on GCM Grosvenor (GCMG) to $15 from $14.50 and keeps an Overweight rating on the shares. The firm notes shares were up following reporting Q2 results. On a core earnings and FRE basis, the quarter was slightly better than expectations and fundraising continued to be strong similar to what the firm has seen from other alternative asset managers.