Carlyle price target raised to $58 from $52 at JMP Securities

JMP Securities raised the firm’s price target on Carlyle to $58 from $52 and keeps an Outperform rating on the shares. Carlyle reported solid Q4 results and is entering 2024 with notable momentum, particularly relative to a year ago, the analyst tells investors in a research note. The company also announced value-enhancing changes, including a shift in the compensation strategy, which will drive significantly more FRE, ~40-50% FRE margin and $40B+ of inflows in 2024, and a sizeable $1.4B buyback authorization, the firm says.