BUZZ-J.P. Morgan cuts PT on Carlyle on fundraising concerns

Reuters
02-12
BUZZ-J.P. Morgan cuts PT on Carlyle on fundraising concerns

** J.P. Morgan cuts PT on private equity firm Carlyle Group CG.O to $54 from $57, citing fundraising concerns

** New PT is an over 8.1% upside to stock's last close

** Brokerage says investors are concerned that realizations may outpace fundraising, undercutting fee-earning assets under management

** Says finding sources of fee-earning AUM growth remains an area of focus

** "Should some of CG's recent fundraising challenges not be more fulsomely resolved in the coming quarters, investor confidence both from an LP perspective and a public market in CG stock perspective could be adversely impacted," says brokerage

** Seven of 18 brokerages rate stock "buy" or higher, 10 "hold", and 1 "sell"; median PT is $55 - data compiled by LSEG

** Stock rose nearly 24.1% in 2024

(Reporting by Ateev Bhandari in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com;))

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