TPG price target lowered to $34 from $36 at BofA

BofA analyst Craig Siegenthaler lowered the firm’s price target on TPG to $34 from $36 and keeps a Buy rating on the shares as part of a Q1 earnings preview note on Alternative Asset Managers. The Alts are likely to have several challenging quarters in front of them due to the slowdown in the velocity of capital and a more challenging fundraising backdrop, the analyst tells investors in a research note.