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Fly News Breaks for January 4, 2019
CG
Jan 4, 2019 | 06:49 EDT
Goldman Sachs analyst Alexander Blostein upgraded Carlyle Group to Buy from Neutral with a price target of $21. The analyst contends that the 31% decline in its stock price, which is about double of the 15% peer average decline, does not account for "considerable change" in the company's cash flow stability profile, citing its "significant growth in fee-related earnings and improving backdrop for incentive income". Blostein expects Carlyle Group to deliver a 23% annualized revenue growth through 2020 in spite of the softer macro backdrop.