Carlyle gains after Citi upgrades rating to 'buy' on fundraising momentum

** Shares of alternative asset manager Carlyle Group CG.O rise 1.1% to $57.49% premarket

** Citi Research upgrades stock to "buy" from "hold", citing improved fundraising outlook across its credit, insurance, private wealth and private equity businesses

** Brokerage raises PT to $65 from $44, which is an upside of a little over 14% to stock's last close

** Citi forecasts $44.8 bln in co's fundraising inflows for the year, an upside to management's 2025 target of $40 bln

** Says there's a possibility CG could raise guidance during its 2Q earnings call on Aug 6

** Eight brokerages rate the stock "buy" and higher, 10 "hold" and one "sell"; median PT is $54 - data compiled by LSEG

** Stock up 12.64% YTD upto Wednesday's close