Carlyle Group Received its Third Buy in a Row

By Austin Angelo

After Morgan Stanley and KBW assigned a Buy rating to Carlyle Group in the last month, the company received another Buy, this time from Oppenheimer. Analyst Chris Kotowski reiterated a Buy rating on Carlyle Group (NASDAQ: CG) yesterday and set a price target of $33. The company’s shares closed on Friday at $20.20.

According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 9.4% and a 62.6% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Apollo Global Management LLC.

Currently, the analyst consensus on Carlyle Group is Strong Buy and the average price target is $29.50, representing a 46.0% upside.

In a report issued on April 10, Morgan Stanley also maintained a Buy rating on the stock with a $31 price target.

Based on Carlyle Group’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $959 million and quarterly net profit of $58.9 million. In comparison, last year the company earned revenue of $1.1 billion and had a net profit of $83 million.

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The Carlyle Group LP engages in a multi-product global alternative asset management. It operates though the following segments: Corporate Private Equity, Real Assets, Global Market Strategies, and Investment Solutions.