Analysts Jump on Carlyle Group With Mixed Bias As Quiet Period Ends (CG)

Private equity’s newest public company is none other than the giant Carlyle Group LP (NASDAQ: CG). Now that 40 calendar days have passed those analysts who work at the underwriting firms are free to initiate coverage.  Some are very positive and some are neutral.  When you consider that Carlyle came public on May 3 and closed at $22.05 that day, the fact that it closed at $21.42 on Monday has to be viewed as a success.

Here is a summary of the analyst ratings we have seen so far this Tuesday:

• Started as Equal-weight with $23 target at Barclays;
• Started as Buy with $27 target at Citigroup;
• Started as Outperform at Credit Suisse;
• Started as Hold with $22 target at Deutsche Bank;
• Started as Neutral with $22 target at Goldman Sachs;
• Started as Overweight with $26 target at JPMorgan;
• Started as Outperform with $26 target at KBW;
• Started as Equal-Weight at Morgan Stanley;
• Started as Neutral with $22 target at Nomura;
• Started as Buy at UBS.

Carlyle Group units are trading at $21.42 and the post-IPO range over the last 40 days has been $20.00 to $22.45.

JON C. OGG