Carlyle climbs after profit beat on dealmaking

Carlyle Group CG.O shares rising 7% on Fri to $59.04 after the asset manager posted qtrly profit that slightly beat analyst estimates, helped by income from deals at its private-equity arm

CG shares on course for biggest one-day pct gain in nine months amid overall rebound in equities .N

The co's Q4 distributable earnings rose 13.7% to $436 mln, or $1.01/shr, just above LSEG estimates of $1.00/shr, driven by asset sales at its private equity and credit businesses

CG said software represents around 6% of its assets under management on Fri, responding to market concerns around potential disruption in the sector from artificial intelligence

Stock recently traded at 12 times expected earnings, suggesting it may be close to fairly valued compared to its 5-yr avg forward PE of 11, per LSEG data

CG shares now around flat YTD compared to ~2% drop in the Nasdaq .IXIC, and the stock is ~16% below its record intraday high hit in Sept

Median analyst PT of $72 implies ~22% upside from the stock's current price

Of 16 analysts covering the stock, 10 rate it 'buy' or 'strong buy', 5 rate 'hold' and 1 recommends 'sell'