As previously reported, TD Cowen downgraded GCM Grosvenor (GCMG) to Hold from Buy with a price target of $12.50, down from $13.50. The firm moves to the sidelines citing the combination of strong year-to-date price appreciation, a softer 2025 fee-related earnings, or FRE, outlook along with a “disappointing” 2024 outlook and reduced residual upside.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter