TPG price target lowered to $66 from $78 at Wells Fargo

Wells Fargo analyst Michael Brown lowered the firm’s price target on TPG (TPG) to $66 from $78 and keeps an Overweight rating on the shares. The firm sees greatest impact for episodic fee streams from macro and cap markets uncertainty, but long-term outlook remains upbeat, and valuations are more attractive after year-to-date underperformance.