Oppenheimer analyst Allison M. Taylor assigned a Buy rating to Carlyle Group (CG) yesterday and set a price target of $31. The company’s shares closed yesterday at $19.24.
Taylor noted:
“CG reported DE of $0.57/sh, significantly beating our $0.29 estimate and consensus of $0.35, albeit with the help of some special items that drove higher FRE. CG’s original 2016 goal of $100B in fundraising by 2019 now looks closer to ~$110B by year-end, which provides near-term visibility for continued strong FRE growth and performance fees down the line. That said, management guided that the realization in the near term is likely to match 2018’s results, which is almost certainly lower than the Street’s expectations. However, CG’s shares are trading at just 7.1x our 2020 estimate, almost 3x below the group, and that seems too much of a discount given the growth outlook and solid fund performance.”
According to TipRanks.com, Taylor is a 2-star analyst with an average return of 0.8% and a 58.3% success rate. Taylor covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Oaktree Capital Group Llc, and Solar Capital Ltd.
Carlyle Group has an analyst consensus of Strong Buy, with a price target consensus of $25.25.
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The company has a one-year high of $25.50 and a one-year low of $15.09. Currently, Carlyle Group has an average volume of 756.5K.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CG in relation to earlier this year.
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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.
