TPG price target raised to $73 from $60 at BMO Capital

BMO Capital analyst Etienne Ricard raised the firm’s price target on TPG (TPG) to $73 from $60 and keeps a Market Perform rating on the shares as part of a broader research note previewing 2025 for Asset Managers. For alternative asset managers, 2025 should offer a more active environment for transactions supported by easing monetary policies, though the firm remains mindful that the sector’s record valuations already reflect investor optimism, the analyst tells investors in a research note. BMO adds that the sector valuations also “reflect improving fundamentals”, also noting that realizations have yet to pick-up as meaningfully and should prove to be a key driver of future fundraising and carried interest.