Carlyle price target lowered to $31 from $35 at Jefferies

Jefferies analyst Daniel Fannon lowered the firm’s price target on Carlyle to $31 from $35 and keeps a Hold rating on the shares. Ahead of Q3 earnings from the U.S. alternative asset mangers, the firm is reducing its estimates by 2.1% on average, largely to reflect lower activity levels, the analyst tells investors in a group preview.