ICG price target lowered to 2,290 GBp from 2,550 GBp at Citi

Citi lowered the firm’s price target on ICG (ICGUF) to 2,290 GBp from 2,550 GBp and keeps a Buy rating on the shares. The firm believes near-term growth in the European alternative asset manage group could be weaker than expected, leading to lower multiples. Citi downgraded three names and reduced price targets across the sector.