Carlyle price target lowered to $40 from $42 at Piper Sandler

Piper Sandler analyst Sumeet Mody lowered the firm’s price target on Carlyle to $40 from $42 and keeps an Overweight rating on the shares. The firm remains positive on the stock following its Q2 results and expects activity levels across the firm to ramp up as the economy stabilizes, the analyst tells investors. Given the company’s new hires, Piper Sandler is “fine” with the firm taking time before making large changes to the comp structure or implementing new initiatives.