UPDATE: JP Morgan Upgrades Carlyle Group to Overweight on Fundamentals
JP Morgan raised its rating on Carlyle Group (NASDAQ: CG) from Not Rated to Overweight with a $29.50 price target.
JP Morgan said, "Fundamentals are good at Carlyle as market conditions are presenting opportunities to both invest and harvest, in a way we are not seeing for other PE firms. We think the results over the last three quarters and particularly in 3Q12 are showing the benefits of a diversified model, with Carlyle leveraging its diversified product offering and geographic presence through a greater rate of investment, fundraising and realization. The results could lead to greater, more stable earnings and a higher valuation."
Carlyle Group closed at $25.76 on Tuesday.
Latest Ratings for CG
|Dec 2014||Deutsche Bank||Maintains||Buy|
|Dec 2014||Barclays||Initiates Coverage on||Equal-weight|
|Oct 2014||Bank of America||Downgrades||Buy||Neutral|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.