Market Overview

UPDATE: Citigroup Upgrades Carlyle Group to Buy on Relative Valuation

Share:
Related CG
Mid-Afternoon Market Update: NASDAQ Down 1.3%; Medicines Company Shares Gain Following Announcement Of Positive ALN-PCSsc Study Results
Mid-Day Market Update: Crude Oil Surges 5.5%; ConforMIS Shares Tumble
Best & Worst August ETFs (Zacks)

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
Aug 2015Goldman SachsInitiates Coverage onNeutral
Aug 2015BarclaysMaintainsEqual-weight
Jul 2015CitigroupMaintainsBuy

View More Analyst Ratings for CG
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Upgrades Analyst Ratings

 

Related Articles (CG)

Get Benzinga's Newsletters