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UPDATE: Citigroup Upgrades Carlyle Group to Buy on Relative Valuation

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Earnings Scheduled For April 27, 2016
Benzinga's M&A Chatter for Thursday April 14, 2016

Citigroup upgraded Carlyle Group (NASDAQ: CG) from Neutral to Buy and raised the price target from $28.00 to $34.00.

Citigroup said, "Upgrade reflects deeper analysis of relative valuation to both peers and implied multiple versus Traditionals as well as likely among best in-class yield potential. No question, CG, like most Alternatives, is off to a strong start in 2013, however, CG still screens inexpensively, in our view. We expect constructive strategic update in concert with 4Q earnings and further incremental organic growth opportunity following recent deals."

Carlyle Group closed at $30.49 on Tuesday.

Latest Ratings for CG

DateFirmActionFromTo
Apr 2016Keefe Bruyette & WoodsDowngradesOutperformMarket Perform
Apr 2016BarclaysMaintainsEqualweight
Apr 2016Deutsche BankMaintainsHold

View More Analyst Ratings for CG
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Upgrades Analyst Ratings

 

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