GCM Grosvenor price target raised to $20 from $19 at Oppenheimer

Oppenheimer raised the firm’s price target on GCM Grosvenor (GCMG) to $20 from $19 and keeps an Outperform rating on the shares following quarterly results. On the revenue side, private markets were slightly lower than expected and absolute return strategies were slightly higher, with the net of the two fractionally higher while expenses were fractionally lower and this drove a 2% beat in fee-related earnings.