Carlyle price target raised to $40 from $38 at BMO Capital

BMO Capital raised the firm’s price target on Carlyle to $40 from $38 and keeps an Outperform rating on the shares. The company reported an expense-driven Q3 earnings beat and the firm sees several levers for Carlyle to increase shareholder value even in the absence of more favorable market conditions, namely via greater capital return, a restructuring of the compensation mix, more FRE-accretive M&A, and sustained operational discipline, the analyst tells investors in a research note.