UPDATE: Deutsche Bank Initiates Carlyle Group with Hold, $22 PT on Valuation, Headwinds
Deutsche Bank initiates its coverage on Carlyle Group (NASDAQ: CG) with a Hold rating and a price target of $22.
Deutsche Bank comments, "We are initiating coverage on CG with a Hold rating, a $22 price target, and 2012 & 2013 ENI (economic net income) estimates of $1.90 & $2.75, respectively. CG is a leading global alternative asset manager, and is well positioned to generate healthy growth, returns, and distributions over time given its diversified business model, attractive growth opportunities, and some favorable industry trends. That said, given environmental headwinds, some performance bumps, and valuation, we see limited upside at this time."
CG closed at $21.42 on Monday.
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