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UPDATE: Citigroup Upgrades Carlyle Group to Buy on Relative Valuation

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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
Oct 2016Keefe Bruyette & WoodsMaintainsMarket Perform
Oct 2016BarclaysMaintainsEqual-Weight
Aug 2016BarclaysMaintainsEqual-Weight

View More Analyst Ratings for CG
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Upgrades Analyst Ratings

 

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