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Citigroup affirms its Buy rating and $29 price target on Carlyle Group
CG following a meeting between investors and management.
Citigroup notes, "Management presentation constructive around: 1) platform positioning – global, scaled, and diversified; 2) cross-sell opportunities into faster growth regions, particularly emerging markets; 3) new investment pipeline; and, 4) structural shift to alternatives. At the margin, a) realization prospects selectively picking up though still somewhat muted; b) management expects new buyout fund closes in mid/2H12."
CG closed at $21.81 on Tuesday.
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