TPG price target raised to $46 from $36 at Citi

Citi raised the firm’s price target on TPG to $46 from $36 and keeps a Buy rating on the shares. The analyst updated estimates, price targets and the firm’s outlook for the alternative asset managers heading into 2024. Overall, Citi remains constructive on the segment where it sees the best growth potential among its coverage of sub-sectors. After rolling price targets to 2025, the firm downgraded Blackstone (BX) and Carlyle Group (CG) to Neutral from Buy as it sees more balanced risk/rewards at current levels after strong finishes for both stocks in 2023. KKR (KKR) remains Citi’s top pick.