After Jefferies and Oppenheimer gave Carlyle Group (NASDAQ: CG) a Buy rating last month, the company received another Buy, this time from Citigroup. Analyst William Katz maintained a Buy rating on Carlyle Group today and set a price target of $34. The company’s shares closed yesterday at $23.95.
According to TipRanks.com, Katz is a 4-star analyst with an average return of 5.0% and a 60.4% success rate. Katz covers the Financial sector, focusing on stocks such as Raymond James Financial, WisdomTree Investments, and Affiliated Managers.
Currently, the analyst consensus on Carlyle Group is a Strong Buy with an average price target of $32.25, implying a 34.7% upside from current levels. In a report issued on August 1, Oppenheimer also assigned a Buy rating to the stock with a $35 price target.
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Based on Carlyle Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $69.4 million. In comparison, last year the company earned revenue of $951 million and had a net profit of $57.6 million.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock.
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The Carlyle Group LP engages in a multi-product global alternative asset management. It operates though the following segments: Corporate Private Equity, Real Assets, Global Market Strategies, and Investment Solutions.
