Deutsche Bank analyst Brian Bedell raised the firm’s price target on Carlyle Group to $43 from $41 and keeps a Buy rating on the shares. While the firm views the company’s Q4 results as being somewhat mixed, the hiring of the new CEO removes an overhang from the stock, enabling the company to focus purely on business growth while also reducing risk of any major sustained downturn in fundraising or further pressure on fee-related earnings. Fee-related earnings may stagnate over the next 1-2 quarters before inflecting upward, but the firm believes a gradual building of operating momentum as well as updates in the coming quarters on the new CEO’s vision and strategic execution will serve as a positive catalyst for the stock this year.
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