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