TPG reinstated with a Market Perform at BMO Capital

BMO Capital reinstated coverage of TPG with a Market Perform rating and $36 price target. TPG benefits from an established track record for return performance, fund strategy innovation, and margin expansion, the analyst tells investors in a research note. However, the company’s asset mix remains overweight higher-leverage real estate and corporate private equity asset classes, which creates a balanced risk/reward for the shares, says the firm.