Wolfe Research initiated coverage of TPG (TPG) with an Outperform rating and $60 price target representing over 20% upside. TPG is a “quality play” on a cyclical private equity recovery, the analyst tells investors in a research note. The firm sees “several ways” for TPG to generate high-teens fee-related earnings growth through 2027. The company’s valuation screens attractively, contends Wolfe.
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