Piper Sandler upgraded GCM Grosvenor (GCMG) to Overweight from Neutral with a price target of $14, up from $12.50. There has been a “noticeable shift in sentiment” in the alternatives space in recent months and Piper does not believe the discounted valuation that GCM Grosvenor is trading at is warranted, the analyst tells investors in a research note. The firm expects momentum in fundraising, growth in direct oriented investments, and a pickup in deal activity to drive carried interest and performance revenues for GCM. The Federal Reserve rate cutting cycle, less regulation, a pro-growth and pro-business administration, and pent-up demand are all areas that could lead to a pickup in transactions which is positive for GCM, contends the firm.
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
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GCMG:
- GCM Grosvenor downgraded to Hold at TD Cowen on softer 2025 outlook
- GCM Grosvenor price target raised to $12.50 from $11.50 at Piper Sandler
- GCM Grosvenor downgraded to Hold from Buy at TD Cowen
- GCM Grosvenor Reports Strong Third Quarter Earnings
- GCM Grosvenor reports Q3 adjusted EPS 16c, consensus 15c