UPDATE: Bank of America Merrill Lynch Initiates Coverage on The Carlyle Group with Neutral Rating, $26 PT
In a report published Wednesday, Bank of America Merrill Lynch initiated coverage on The Carlyle Group (NASDAQ: CG) with a Neutral rating and $26.00 price target.
BofA Merrill Lynch noted, “We are initiating coverage of Carlyle with a Neutral rating and a $26 PO. Carlyle is one of the leading alternative asset managers in the industry, with a diversifying product mix spanning corporate private equity (CPE), real assets (RA), global market strategies (GMS), and fund-of-funds solutions (FoF/AlpInvest). While CG is well positioned over the long run given its strong performance, impressive fundraising, and an expected pick up in distributions, given its fair valuation, more reliance on incentive income with some areas of mixed performance, and a revenue mix that is more concentrated than its asset mix, we see limited upside.”
The Carlyle Group closed on Tuesday at $25.10.
Latest Ratings for CG
|Oct 2016||Keefe Bruyette & Woods||Maintains||Market Perform|
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